YouTube looks to jump 20% in advertising revenue in 2009, if a Credit Suisse report proves correct - but will still suffer a loss of $470 million because of costs accrued, reports MediaBuyerPlanner.

Though the site still pulls the majority of online video viewers - Google Sites owns 41% of the online video market, and YouTube.com accounts for more than 99% of all videos viewed at the property - it is still not fully monetized. Cost of bandwidth, content licensing, ad revenue deals with content providers, hardware storage, and sales/marketing expenses comes to $711 million per year, Credit Suisse says. Bandwidth costs alone are estimated at $360 million.

Google, of course, is working hard to reverse the trend. The company is working on technology that allows advertisers to buy ads across Google TV Ads, YouTube and other web video, all via the same interface, to make it easier for big brand advertisers to spend across both services. Google TV Ads Online is currently being tested with a small group of advertisers.

Last week, Disney penned a deal with YouTube to avail short-form content to its users. The revenue-sharing Disney-YouTube deal is similar to one YouTube signed last year with CBS. Credit Suisse says striking more such deals with entertainment companies will help boost financial results, as will improving the effectiveness of its ads.

YouTube competitor Hulu had 333 million streams in February, while YouTube had 5.35 billion. However, digital media research group Screen Digest predicted late last year that Hulu would give YouTube a run for its money in terms of advertising revenue in 2009: both are expected to pull about $180 million in the U.S.