According to a comScore report, the total U.S. Internet video audience in January 2007 was 123 million people, up 11 percent from just five months prior. With the continual and rapid evolution of technology and media convergence, it’s not surprising that the number is expected to rise nearly 50 percent to 157 million by 2010.Not only are the numbers rising, but the entire industry is facing change from macro to micro-cap arenas. Yesterday, it was announced the deal between Reuters and Canadian financial data provider Thompson is concrete. The $17 billion buyout will save both companies about $500 million each year and put them on the frontlines of the new trends of media delivery.
Also riding the media wave on its journey from print exposure to real-time Internet and jumping on the bandwagon for innovative information delivery is Pink Sheets traded Tubearoo Inc. (TUBR).
Acknowledging the benefits and opportunity that comes with the fusion of technology, media and finance, Tubearoo focuses on changing with the times.
The company’s mission is to “become one of the world’s largest Internet video networks” and is on its way to at least offer services on a global scale. In a press release yesterday, Tubearoo President and CEO Paul Medvedev said the traffic reports show the network to have gone global.
The user base is taking a trip around the world, with its users crossing borders from Canada to Australia and in between.
“Knowing that there are over 120 million people watching Internet video across the U.S., this is just a portion of the total worldwide audience. Watching video online should continue to grow in popularity and penetration throughout the world as it becomes more and more of a mainstream utilization of the Internet,” Medvedev said.
Banking on the rise in Internet video, Tubearoo’s technology allows users to view, upload and share streaming Internet video on a network of Internet video, social networking and people-powered Web sites. The network is accessible at tubearoo.com and shoutwire.com, available in English and Chinese.
MN1’s calls to Tubearoo have not yet been returned.
Shares of TUBR were up 10 cents to $2.31Thursday morning.
