User-generated video to generate $1.19B in revenues by 2012

User-generated video content has proved more popular than expected, with significant growth in China, according to a new report from In-Stat.
Higher-quality content and increasing file size maximums will push the demands of bandwidth to a faster growth rate than the number of files/videos served, said the firm.
“User-generated video (UGV) and the video sharing sites that exemplify this form of content have spread across the globe,” said Michael Inouye, In-Stat analyst. “China is a prime example of UGV’s global reach and appeal, capturing a significant portion of the world market, making it second only to the U.S.
Total revenue for UGV is expected to surpass $1.19 billion by 2012, with 160 billion UGV served videos, said In-Stat. Individuals who use mobile phones to participate in online video sites are most likely to contribute to the market, both financially and in terms of content, said the report.