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Pay revenues from online video services to quadruple by 2020, as more people use their broadband connections to watch TV content, it has been claimed

Media management company Red Bee Media found that 78 per cent of IPTV market participants are "positive" about the financial outlook for the industry.

However, respondents offered the view that incumbent broadcasters and platforms - such as those offered by broadband providers - are likely to face growing competition for this revenue.

Around two-thirds of respondents (64 per cent) said the growing influence of digital firms such as Apple, Google, Amazon and Facebook is the most important challenge facing their company through to 2020.

And 23 per cent expect nearly a quarter (23 per cent) of adults to watch video through games consoles by 2020, up from 12 per cent in 2010.

Bill Patrizio, Chief Executive of Red Bee Media, said it is clear that technology and internet businesses are fast becoming significant players.

"If the last ten years have seen the convergence of broadcasting with broadband, it's likely that the remainder of the coming decade will see a collision and competition between business models driven by consumer demand and expectation and changing patterns of media consumption," he stated.

"Media companies will have to fight hard and innovate in a fast-changing, technologically driven landscape if they are to make the most of this flourishing market."

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