I was struck by NBC’s announcement this week that the network plans on making over 2,200 hours of video available for streaming on NBCOlympics.com and offer online viewers reams of data and real-time blogging from events. While online data isnt unusual for an Olympics, 2,200 hours of streaming video has to be a record and speaks volumes to the explosion of digital video online.A recent report from the Neilsen Company confirmed this — online video viewing is no longer a novelty. Two-thirds of Internet users in the United States, some 119 million people, watched a video in May. Mobile Internet and mobile phone video is also growing. So what does all this mean other than there is more content available when you want it, where you want it? It means processing power–and super fast video encoding—-matters more than ever. Will there be more online video from London at the next summer Olympics in 2012? Absolutely. Will it be in high-definition? Its likely. Who says processing power doesnt matter?