Online video advertising is expected to reach $2.35 billion, according to eMarketer.

The predicted 2010 figure of $2.35 billion is up from $385 million in 2006.

"Recent news indicates that those estimates from June of this year may already be outdated," says David Hallerman, an eMarketer senior analyst. "Whether it's advertising or it's content, the internet audience increasingly wants video."

Last week, comScore Media Metrix released its August rankings of the top U.S. streaming video properties and found that Fox Interactive, which includes MySpace.com, led the way with 1.4 billion streams during the month, or 20.1 percent of the market.

Social networks are estimated to attract $280 million in ad dollars this year and online video-sharing sites are estimated to attract about $385 million, reports Marketwatch.