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With a clear ad model, full-screen video that lacks the graininess of YouTube, and completely legit copyrighted content, Joost may not only be a "YouTube killer" but also may have cable companies shaking.

According to Ad Age, Joost also offers frills - like giving users the ability to create their own networks and live instant messaging - as part of its plan to be "TV on steroids."

In beta, Joost has already signed a dozen or so content deals with major networks, and its ad model includes five- to seven-second ads that pop up when certain videos are initiated, and mid-roll video ads in videos more than five minutes long, the number of which are scaled pro rata to the length of the content.

Wrigley, T-Mobile, Maybelline and Phillips are among the beta advertisers.