In a recent TechCrunch post Eric Shonfeld raises questions about how exactly YouTube’s market dominance will or will not translate into a lucrative business model. According to comscore, 37 percent of all videos watched on the Internet are viewed on YouTube and the site attracts about half of the online video audience.

If you look at YouTube’s numbers, one thing is clear: It completely dominates online video.

And Forbes estimates that YouTube will make $200 million in revenues this year, and $350 million next year.

Shonfeld contends that while this seems impressive, when we take into account eMarketer’s estimate that online video advertising will reach $1.35 billion this year, YouTube’s share of video advertising dollars comes out to only 15 percent (less than half of its share of videos watched).

What is the meaning behind this gap?

YouTube has built increasingly indisputable market dominance while under Google, where there has been little need to focus on maximizing revenues. The gap in YouTube’s share of videos watched and the site’s share of advertising revenue illustrates that growth in video ad dollars isn’t being driven by user generated content. And that is unlikely to change dramatically in the near future. Professional content—delivered to users interactively, with a focus on an engaging, “lean forward” user experience—will deliver the kind of high value impressions advertisers are used to buying offline. The real dollar value creation related to online video will come from professional content moving online in a way that meets consumer needs in terms of discovery, sharing, commenting and engagement.

The Massachusetts Innovation & Technology Exchange (MITX) announced the winners of its fifth annual MITX Technology Awards at a ceremony last night in the Royal Sonesta Hotel in Cambridge. These awards recognize innovative technologies developed in New England.

MITX gave out awards in 14 categories which ranged from recognition of qualities such as “innovative business strategy” and “usability,” to acknowledgment in areas of strength for the New England technology economy, such as enterprise technology, data protection, and mobile and video software.

As a leader in next-generation Universal Search and video search engine optimization (video SEO), EveryZing, won in the “Content Management/Search” category.

EveryZing’s solution uses pedigreed speech-to-text technology to unlock the contents of multimedia audio and video files, enabling them to be searched the same way as text. This enhances the discoverability of the content by large search engines, and thus, drives the content’s video search engine optimization (video SEO). Through its technology, EveryZing is helping media companies and other infotainment sites to drive audience reach, site engagement and contextual monetization of their online audio and video content.

“This prestigious honor comes during an exciting period of growth here at EveryZing,” said Tom Wilde, CEO.

We have recently launched several new products, ezSEO, ezSEARCH and RAMP, helping to establish EveryZing as a complete solution provider for next-generation universal search and search engine optimization (SEO) technologies. Being named a MITX Award winner is an impressive recognition of our technological advancement and the online audio and video search capabilities we’re providing for our customers.