At MIPTV this week, AOL CEO Jonathan Miller delivered his keynote speech and how video on the Internet will continue to skyrocket. "Today, video consumption online is exploding. In the US video streams were up more than 40% last year, and in Europe 61% of people use their computers to watch videos. Until now, the lack of broadband and poor video search held back online video."

During the speech, Miller also explained how advertising via Internet TV will be the new trend and stated that AOL has already worked with advertisers including P&G, Kraft, General Motors and Coke. "In-stream video advertising is poised for rapid growth. The TV ad business in the US is a US$60bn industry, and those advertisers are increasingly looking to the internet. Streaming ads are projected to more than double between now and 2009, and in-stream ads are now getting television-like CPMs."

He also went on to talk about In2TV, which is AOL's video network that recently launched full episodes of Warner Bros. programs from the past 40 years.

Read more via "Miller: mytime is the new primetime" in C21Media and "Live From MIPTV: AOL Talks Up Ad-Sponsored IPTV Model" in Telecomweb.