eMarketer announced a study that predicts internet video advertising spending in the United States will triple to $640 million in 2007 from this year's $225 million.

eMarketer's report, "Online Video Advertising," speculates that by the end of the decade, advertisers will spend an estimated $1.5 billion on video ads.

"This news reaffirms that advertisers, buoyed by broadband adoption, are turning in droves to online video advertising. Online is now realistically beginning to be able to deliver the reach and frequency that the TV medium has offered to date. At Klipmart we are excited, as this heralds the way for the innovation we have dreamed of for years… live streaming, original video, mobile and VOD," says Chris Young, president, Klipmart and iMedia contributor.

The eMarketer report says that internet video has the greatest potential to blend several marketing elements such as paid search, viral marketing consumer generated media and behavioral targeting.

"Online video advertising used to be an oxymoron -- but no more. Television and the internet are developing new ways to complement each other. Video represents common ground for television and the internet, not a field of battle," says David Hallerman, senior analyst at eMarketer and author of the report.

eMarketer cites broadband adoption at home as the key driver of online video advertising's growth. According to eMarketer, there will be more than 69 million U.S. broadband households by 2008, more than doubling 2004's figure of 34.3 million.