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NEW YORK (Reuters) - Web video company blinkx Plc said on Wednesday it is launching a video search service for websites to integrate on their pages and share in advertising revenue generated by users' searches.
Blinkx said the new service, called Red Label, would be available in two tiers. The first tier would be for larger customers that use blinkx services while the second tier would be a self-service portal for smaller sites, such as blogs.
Blinkx, based in San Francisco and London, already has two 'first tier' partners in Europe: Microsoft Corp's online portal MSN UK and Russia's largest portal, Rambler.
While the ad industry is holding out hope of strong revenue growth from online video this year, it is yet to become reality. The Wall Street Journal reported this month that ad revenue from YouTube, the world's largest video site, would likely total about $200 million this year -- short of parent company Google Inc's expectations.
Blink executives point to Forrester Research which predicts the online video ad market will reach $7.2 billion by 2012.
Suranga Chandratillake, chief executive of blinkx, said Red Label would enable customers to boost revenue by allowing them to post their own ads around the videos as well as highly targeted ads delivered by blinkx.
(Reporting by Yinka Adegoke; Editing by Braden Reddall)
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