Powered largely by online advertising and growth in subscriptions and pay-per-view use, profits from over-the-top TV and video services will see a five-fold increase over the next five years, London-based media research company Digital TV Research says in a new report. After generating approximately $3.48 billion in 2010, global online TV and video revenues will increase to an estimated $21.52 billion US in 2016, said the report, released Thursday. “The OTT television and video sector is on the brink of a huge take-off as the key players expand internationally, companies consolidate … and as new partnerships are announced on a daily basis,” Simon Murray, the report’s author, said in a release. Much of that growth will be found through an expansion of over-the-top advertising, the report said. Already a “key driver” of the sector, online video ads accounted for $2.18 billion US in 2010, and will grow to $9.98 billion US in 2010, the firm projected. During that time, however, advertising revenues will decline as a total percentage of all over-the-top revenues, from 63 to 46 per cent, the report said, with subscription, pay-per-view and download-to-own revenues expected to make up the difference. “This impressive growth will be helped as more and more households watch more and more TV and video online,” the report said, noting that more than 415 million homes will watch online television and video by 2016, up from 177 million homes in 2010.