This week will be 15 years since YouTube was founded. The domain name was activated on 4 February 2005. YouTube is now a significant competitor to commercial television networks, in terms of viewer attention and advertising spend. Last year it generated over $15 billion in advertising revenue, some of which is paid out to content contributors. In many ways it is more disruptive than Netflix, which is now being joined by many major media companies with their own subscription and advertising funded online video services. We have been tracking developments in this field throughout, providing strategic consultancy to media companies, broadcasters, service providers, vendors and investors. We are fortunate to have been involved in some great projects and look forward to working with our clients over the next phase of the network television revolution.