A consortium of US media giants, among them America Online and Barry Diller's IAC/InterActiveCorp, revealed this week they are to plough $16.2 million (€13.7m; £9.4) into an internet startup that plans to distribute video content online.

The newcomer, Brightcove, says its technology will enable video publishers to syndicate content to AOL.com and other ISPs for wider distribution.

It will also allow publishers to generate revenue from advertising in the form of commercials and links, as well as sales of content on AOL's websites.

Brightcove vp of marketing and strategy Adam Berrey claims that advertisers are eager to exploit this new route to consumer eyeballs: "They see the opportunity to combine the best of internet advertising with the best of TV advertising."

Data sourced from Financial Times Online; additional content by WARC staff