This sounds like good news — more competition. I’m hoping this will have an impact on cable television, opening up for more choices and options.

Right now, I would like to pick and choose the TV channels I receive in my home, and reject what I don’t need or want. Instead, I pay one price, and subsidize a lot of junk I don’t care for, or do not want in my home.

“Unlike Joost, which is a closed system with content from a limited number of sources, VeohTV supports open Internet standards, and has access to virtually all of the video content on the Internet, on demand.” said Dmitry Shapiro, CEO of Veoh Networks. “We asked Veoh.com users what they really want in their online video experience and VeohTV is the culmination of that feedback. We believe that it will be the dominant standard for online video consumption moving forward.”

Industry heavyweights who have seen early versions of VeohTV have had positive reaction. “It’s a great product” said Barry Diller, Chairman and CEO of Interactive Corp.

“Veoh has leapfrogged the field with their dazzling new video application,” said Ross Levinsohn, former President, Fox Interactive Media. “The new Veoh will set the bar very high for others to shoot for, and will be a terrific experience for consumers worldwide.”