The Streaming Video Council, which is due to have its first meeting in the next few weeks, has been promoted by technology companies and is set to replicate efforts by Barb to pioneer a system that could become a currency for advertisers.
Barb is currently at least three years away from launching an online currency that can be used to measure video-on-demand, but the IAB claims that existing online technologies can be adapted to do the job.
Guy Phillipson, chief executive of the IAB, said he would welcome the involvement of broadcasters such as Channel 4 and ITV in the work of the council, but said the technology companies behind the new- media platforms were leading the agenda so far.
"The aim is to look at the measurement of areas such as product placement in online and video-on-demand," he said.
Both existing online currencies and Barb's system of TV measurement have been widely criticised as being unable to provide for the raft of new VOD services being launched in the UK.
Barb is due to invite detailed tenders from technology providers for its service in April, although the measurement of VOD under its contract is not due to come into force until 2010.
Nigel Walley, managing director of digital consultancy Decipher, said he believed the move by the IAB could represent the beginning of a battle for territory in the area of VOD measurement between the traditional broadcasting sector and online companies.
"What we're starting to see is early warfare between the internet companies and the broadcasters," he said. "The currencies they are looking to come up with are revenue generating and they will both want to own this space.
"The question that has to be asked is whether senior investors at client companies will tolerate different measurement systems, or whether they will demand one overarching system."
Walley predicted that there would be pressure on the IAB and Barb to work more closely together in the future.
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