Media Roundup: Online Video Watching Up, McGraw cuts 375, and More

(MoneyWatch)  Time spent watching online video up 40 percent -- In a report released by comScore, time spent viewing online video has increased 40 percent. The number of videos watched also increased from last year. [Source: NewTeeVee]

McGraw Hill cuts 375 jobs -- McGraw Hill, publisher of Business Week magazine, has cut 375 jobs, most from its Information and Media division. The cuts came after a down Q3 that saw a 13.7 percent drop in profit. [Source: paidContent]

2009 to be rough on Web properties -- J.P. Morgan has issued a report predicting that 2009 will be a difficult year to sell display advertising. The report also mentions that online video should see sizable growth, but will not become profitable. [Source: MediaWeek]

Video game consoles have strong Christmas -- Based on November returns, Microsoft, Sony, and Nintendo all appear to have had strong holiday sales this year. The video console industry saw an uptick in sales despite a generally weak retail season. [Source: CNET]

iTunes may drop DRM -- Apple has reached an agreement with the record industry trading flexible pricing for the removal of copy protection on music. The removal of DRM, short for Digital Rights Management, has been requested by iTunes customers for some time. [Source: CNET]