So, Joost has announced big names as its launch advertisers. That's nice. But what they haven't announced is the value of the media buy.
Frankly, the big advertisers will try anything these days, especially if it associates them with some of the hype of Web 2.0. Let me reel off some Narrowstep advertisers: Canon, Nissan, Ford, Sony Ericsson, AOL, Apple, etc.. Roo Media actually announced a media buy as if it were a joint venture (albeit some time ago).
They key is critical mass, and that is a simple formula that involves delivering relevant audiences to advertisers.
Indeed, the vast majority of this overhyped TV 2.0 industry (around 90% I'd guess) will have this as its business model.
So, can you deliver volume, or can you deliver closely defined audiences. The online TV advertising battle will be fought between those trying to replicate broadcasting (eg Joost) and those focused on narrowcasting (eg Jump TV).
I can't help but remember the marketing industry when I worked there in the (cough) eighties. The 'above the line', ie TV ad market was the sexy area to be in, but it was the 'below the line', ie direct mail and stuff that actually was delivering results.
There's nothing new under the sun, as they say.