News Corporation and NBC today announced the launch of an Internet video distribution network that will bring as soon as this summer television content to the Internet within hours of its first time distribution. AOL, MSN, MySpace and Yahoo! will be the new site's initial distribution partners. It is also anticipated that the site will include consumer-generated video as well as thousands of hours of full-length television programming, videos and clips. This will include premium content from a dozen networks and major film studios.
This network will offer free long- and short-form video. Each of the distribution partners will show the content via a customized embedded player. The venture promises on-air and on-line advertising opportunities. Initial advertisers already lined up include Cadbury Schweppes, Cisco, Esurance, Intel and General Motors. This distribution network will provide advertisers and users a powerful alternative to YouTube. Is Google worried? According to reports in the LA Times Google executives disdain for the project and have nicknamed the consortium: Clown Co. It remains to be seen who will have the last laugh.