Veoh Networks has officially launched its online video service hoping to provide a convenient place for video viewers and publishers to visit. For video publishers the company offers automatic syndication and reporting features, which allow them to reach a large Web audience.

For viewers the site offers a downloadable player that acts as a virtual DVR that has the ability to download content from various sites on the Internet. For both viewers and publishers, Veoh’s peer-to peer network allows publishers to provide viewers with a full-screen, DVD quality experience.

"Veoh's mission is to bring the next generation of television to people wherever they are--office, living room, or on the go." said Dmitry Shapiro, CEO, Veoh. "Technology will allow us to dramatically improve the experience, and we believe our formal release today is an important step towards realizing our goal."

Veho has backing from Hollywood heavyweight Michael Eisner former Walt Disney Co. CEO who also servers on the company’s board of directors.

Veoh is hoping to capture viewers and advertisers but has the challenge of competing with YouTube and Joost in the Internet television market. The company aims to set itself apart from the competition with longer videos, high-quality pictures and advanced publishing tools.

The site allows publishers to distribute videos of any length to multiple sites such as YouTube or MySpace. They are also counting on their DVD-quality video to attract viewers.

Last summer the site was embroiled in controversy for allowing users to upload pornographic videos. Since then they have removed the content and have changed their policy, and currently ban all adult content.

According to Nielsen Net Ratings, Veoh is the 15th most visited online video site, attracting around 520,000 unique viewers monthly.

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