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According to Web consultancy Bain & Co, developing a major web audience for Internet video could be a lot longer away than expected.

The firm says by 2012, people watching TV in the U.S. will increase their viewing by two hours a week, while during that same time period those using the Internet outside the office will increase their usage by only a half-hour a week.

David Sanderson, head of Bain's global media practice, concluded,  "There are capacity constraints, the technology isn't quite there ... and frankly the business models for the content owners, all of that still needs to be worked out.

"Until that's worked out and until the Internet can deliver that same experience, then it's still going to be delivered over the traditional multichannel video providers."

Sanderson adds he thinks it could take five years or more for video to become a viable video alternative online.