Both Apple and Adobe have purchased advertising technology companies in the recent past and are now set to take on Google's virtual monopoly.
The key to this is the ability to accurately track and measure advertising delivery across multiple sites, and therefore to place targeted advertising. Adobe, in particular, are looking to leverage the dominance of their video technology on the internet by centrally measuring plays of any video using their technology (presumably with an opt in by the publisher).
But this is a dastardly difficult market to break into, and even Google has failed to capitalise on the dominance of YouTube, in the end finding their traditional display ads as being the best way to monetise the video content.
Underpinning this is the technology battleground that is gaining steam around Flash video, VP8, HTML5 and H.264 and the nascent influence of mobile video as the popularity of the iPad transfers into a new, cheaper generation of tablet computers and a more sophisticated, powerful range of smartphones.