Internet market researcher eMarketer has drastically lowered its estimates on how much businesses will spend on online video advertising in the near future. The New York City-based firm expects spending on online video ads to reach $505 million by the end of this year, down from the $1.35 billion eMarketer predicted earlier this year. eMarketer also sharply reduced projections for future spending on online video ads from earlier estimates of $4.3 billion by 2011 to $1.9 billion by 2011.
