Cisco forecasts that half of all global internet traffic will soon be video. Sandvine reports that real-time entertainment applications already represent half of peak internet traffic in North America, where Netflix consumes nearly 30%, while YouTube accounts for 11% and Hulu 1%. Online video continues to soak up network infrastructure but represents only a fraction of all viewing, which is still dominated by traditional television. But with an addressable audience of over a billion users worldwide, the significance of online video should not be underestimated.