Making the first step to challenging YouTube, Sony released plans to launch a video-sharing site in Japan today, according to Reuters. The online service, eyeVio, will be launched abroad if things go well in Japan.

Sony said it would closely monitor the content more closely than does YouTube, which faces a $1 billion copyright lawsuit. Sony also wants the site to appeal to companies wishing to release content such as ads and corporate messages.

The site will be free for users, and traffic will be monetized through media partnerships and advertising.