Ironically, newspapers are beating out TV stations when it comes to leveraging video on websites and other digital channels, according to Borrell Associates, reports MediaWeek.

Last year, local newspaper sites had a 50 percent (roughly $80 million) share of total video ad revenue, compared with TV station sites' 20 percent ($32 million). Other local sites combined have 30 percent of local video ad revenue ($48 million).

TV stations are getting a larger share of video ad spending this year than last, about 24 percent, estimated Borrell. It said TV stations would reap larger ad shares if they hire dedicated sales staffs to manage digital media sales.

Online video, which makes up only 5 percent of local advertising this year, is becoming a more prominent feature of local online ad revenue. Borrell expects that by 2012 online video advertising will take 35 percent of all local online ad dollars, which are projected to reach more than $7.7 billion.