One could argue that it is not possible to measure the audience of a new medium until that medium - and hence, an audience for it - actually exists. In the United States, buyers and sellers of interactive media have estimated audiences for interactive TV based upon projections, but with few actual audience measurement studies. This paper outlines how the broadband industry has vigorously pursued the development and rollout of Interactive Television amidst optimistic predictions and forecasts. Despite these predictions, the authors assess the lukewarm marketplace response to iTV through consumer research and market trials, and discuss what we can learn for future video/broadband products from the development, testing and roll-out of Interactive Television. Lastly, the paper addresses the implications of launching these products in terms of audience measurement.