Online video will grow faster than any other form of internet advertising, according to a new report released by eMarketer.

Though online video currently makes up only 2.3 percent of the $16.7 billion spent annually on online advertising, it will pull 8 percent of the $29.4 billion expected to be spent in 2010, writes BtoB (via MediaBuyerPlanner). This year, online video ads will grow more than 71 percent year over year.

A forecast earlier in the year from PQ Media predicted that blog, podcast and RSS ad spend would climb 144.9 percent in 2006, reaching $49.8 million.