Veoh Networks, an Internet video firm, has launched a new online video syndication service that uses peer-to-peer network technology to distribution video on such Web services as MySpace and YouTube. The model is similar to competitor BrightCove, which recently raised close to $60 million in venture funding.

Content owners simply upload their video to the Veoh service, which then syndicates the content to various sites, including the content owners' blogs. It supports both advertising and a la carte sales models.

Like BitTorrent, it relies on P2P technology to distribute video, allowing those downloading it to pull large video files from multiple sources-which makes for quicker downloads.