CHART OF THE DAY: Watch Out Cable Companies! Live Streaming Popularity Up 600% For The Year

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The world of web video is quickly evolving, and live video sites are benefiting. New data from comScore shows minutes spent on live streaming sites like UStream, Justin.tv, and Livestream are up 600% on a year over year basis.

In July users spent 1.5 billion minutes watching videos on those sites. It’s still much smaller than recorded web video. YouTube alone served up well over 40 billion minutes worth of video in July. But, time spent watching YouTube only grew 68%.

This is potentially bad news for the cable companies. The more people get comfortable watching streams on the web, the less they need cable. Obviously, the fare offered up on these sites isn’t on par with what you get on premium stations, but if they can ever hit on a winning formula for a show or channel, people will be ready to tune in.

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