With a number of video-based initiatives launched or coming soon, Comcast is looking to become a major player in the web video space, reports The Wall Street Journal.

However well it does in that fight, though, Comcast will have to adjust to not being the only game in town, a position it often has as a cable operator. It also can't count on simply bringing together "short tail" hits but must also provide for niche and consumer-generated content. While the company says it's working on features along those lines some say it has a ways to go to catch up to other players.

What Comcast has in its favor is wide reach as the second largest cable provider in the country. That would help it promote its projects, such as the recently announced Fancast,  to its subscriber base.

Comcast is also deciding which of the major advertising/search companies to partner with. That could wind up bringing in $100 million a year for the company beginning next year. Ads sold under that deal could wind up in some of the video Comcast winds up offering.