Publicis Groupe media buying agency Starcom estimates that the four major TV networks stand to bring in about $120 million from online video ads this year, the FT reported. The TV nets have been notably reticent about the actual amount of revenue being produced by streaming video ads, which is one of the main issues at the center of the current Writers’ Guild strike.

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Tracey Scheppach, SVP and video innovation director for Starcom, based the speculative $120 million figure on the amount the agency is paying for ads tied to streaming video across ABC, CBS (NYSE: CBS), NBC and Fox. Scheppach is quoted saying she expects that the higher level of engagement provided by streaming video versus TV will lead to a steady rise in revenues for the networks. Additionally, syndication will also increase the population of the streaming video users; in turn, this will enhance the underlying value of the networks’ online content. Online video ad revenues will reach $1.3 billion across the board by the end of 2007, according to data cited in the FT piece by media researcher Accustream.