Inspired by the popularity of YouTube, Viacom, CBS corporation, Index Ventures (European venture capital firm), Sequoia Capital (also a venture capital firm), and Li Ka - shing, an influential telecommunications business executive from Hong Kong have all decided to invest in an Internet-based TV service called Joost. Joost received $45 million from these five investors and may be collecting even more. Unlike YouTube, which is the center of controversy for alleged copyright infringement, Joost has already signed contracts with major content providers, including the aforementioned investors. This will allow Joost to show material from MTV, Nickelodeon, Paramount and Comedy Central without the concern of copyright infringement or any other legal matters.
I think Joost is a good idea and will be very popular once it is launched. It already beats YouTube since it will have legal material on the site and I think everyone would be more excited to see actual television shows, which is what Joost would be offering, rather than random kids filming themselves acting like idiots and posting it on the Internet, which is what YouTube offers. This service might even curtail the amount of illegal downloading if people can watch some of their favorite shows on Joost instead of trying to download them.
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