Jeremy Allaire and Adam Berrey from the Internet television startup brightcove have posted an interesting take on the state of Internet video. They take a look back at what happened in 2007, but also offer their vision for what will happen in 2008.

Here are the highlights:

• Branded Destinations – Media companies with established brands and new start-ups will continue to build successful branded destinations so they can control the access to audiences. Think The Daily Show site.
• Audience Networks – Because of the power of big aggregators to reach new audiences, content owners will continue to develop distribution strategies that place elements of their content library into wide distribution, in most cases with advertising attached. An example would be putting promos onto YouTube.
• Audience Monetization – To date the advertising focus in the Internet TV market has been on monetizing video streams. But this focus is both shortsighted and not nearly as effective as thinking about how to monetize audience. Content owners will look for new ways to blend ad formats, insertion policies, and targeting tactics across pages, short-form video clips, long-form shows, and open distribution.
• Contextual Publishing – One of the key insights from the last two years is that short-form online video does best when it’s placed in a context. The context could be created by pages in a website, comments from users, line-ups in a player, etc. Regardless of how it’s done, getting the context right means you can put the right video clips in front of a viewer, which makes everyone happy. We expect that contextual in-page video publishing will grow, and that it will be extended to slideshows and audio content as more and more rich media is brought out of silos and into the core of websites.
• High-Quality Video – High-quality video will push Internet TV closer to traditional broadcast TV, and create new opportunities for brand marketers.

2007 validated that there was an audience for Internet video. 2008 will see an explosion of experimentation as networks try to figure out how to get people hooked on high-quality Internet video.

The biggest limit to growth in Internet video in 2008 probably won’t be a lack of content, but a lack of standard ways to view the content on a variety of devices.