Joost ImageEarly this month , the Web community witnessed the launch of “Joost,” touted as the broadcast-quality Internet television service. A brainchild of Niklas Zennström and Janus Friis , the founders of KaZaa and Skype, the service is based on P2P ( peer-to-peer ) technology. Joost will stream licensed video content from Turner Broadcasting System (TBS), the National Hockey League (NHL), Sports Illustrated (SI), Hasbro , Sony Pictures Entertainment, and Viacom, to name a few among the more than 100 content providers they have signed up with. With over 150 available channels, the service has roped in more than 30 global advertisers — including The Coca-Cola Company, HP, Intel, and Nike. It has also enlisted the power house of talent agencies such as Creative Artists Agency to help it generate more professional content.

Targeted towards providing a win-win scenario for both content consumers and content creators, the service, formerly known as the Venice Project, aims to provide both content users and producers superior video distribution (and monetization) tools.

Here’s an excerpt from the article in the Ecommerce Times:

“The site operates the same as the more familiar music file sharing sites. Users can either search for content or visit one of the site’s channels. It then looks to see who has what content and then, instead of streaming the content in real-time, it downloads the content as a progressive download, allowing users to start watching the video in a fairly short amount of time.”

Joost’s USP is that it provides a secure medium for free delivery of licensed, copyrighted content. Users have to download freely available software to connect to the network. This contrasts with YouTube’s model of delivery of user generated content directly through a browser which requires no software and places few restrictions on sharing. This has made it the target for copyright infringement lawsuits. (InfoWorld | IDG News Service )

For more news :

Review – Joost (PC World)

Viacom to offer free TV shows, Movies on (Bloomberg)

Joost buddies up to Hollywood (TV

While the heat is on in the online video space, Google itself plans to foray into the traditional forte of media-advertisers, television. The search engine giant is looking to leverage its hugely successful targeted ads technology to deliver ads over TV. (article from PC World)

Also, Apple plans to launch its own video delivery platform, Apple TV, based on the successful iTunes business model. (article from MacNewsWorld)

With Apple TV debuting in the near future and a number of other competitors in the online video space, will Joost’s business model succeed in grabbing mind-share from YouTube? Join the discussion.