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And media forecasters are busy out-predicting one another about how many billions of dollars Internet video will throw off each year.
Miscellany Three leading media forecasters are reducing their estimates for growth in worldwide advertising spending in 2013 compared with this year because of the continued sluggishness of economies in major ad markets like Europe and the United States.
Other media forecasters estimate that Internet companies will end up spending $1.7 billion this year to advertise in traditional media outlets.
When TV and movie streaming service Netflix decided to start commissioning its own material, it turned not to Hollywood veterans, film critics or media forecasters, but to algorithms and user data.
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A leading media forecaster has reduced his estimate for American advertising spending in 2001, predicting for the first time a decline for this year from 2000.
Indeed, a leading media forecaster, Myers Reports Inc. in New York, is predicting that the seven broadcast TV networks will take in less during the coming up-front market than they did last spring when they sold commercials for prime-time programs ahead of the 2000-2001 season.
The forecast community suggests they got it right, while the popular media suggests forecasters got it wrong.
The fact that several events that happen every four years will take place next year will stimulate the media and ad industries, leading forecasters said on Monday, offsetting the detrimental effects of the European debt crisis.
Brian Wieser, head forecaster at the media agency Magna, says that advertising mail will grow but not get back to where it was before the recession within the next five years.
What's more, Tetlock found a distinct correlation between the calibration of a forecaster and the media attention they receive.
In early 2014, forecasts of a possible major El Niño event were reported in the media based on information supplied by forecasters.
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