IT’S GOOD TO BE AN ONLINE VIDEO KING Image

Peter Chernin, News Corp. president and chief operating officer, said Tuesday that he expects his company to exceed its goal of $500 million in digital revenue for the current fiscal year, also stating that online video advertising has the potential to be “the single best (business) story” for media companies in 2007.

However, it’s not all wine and roses for the user-generated video sites:

“There is very little opportunity to monetize” user-generated videos because advertisers are not always comfortable with their content, and “there is no scarcity value,” Chernin argued. “If you put an ad on a minutelong clip of someone falling off a skateboard, people can find that (video) everywhere.”

Read the full story at The Hollywood Reporter>>>

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