Joost

Joost was an internet TV service provider initiated by Niklas Zennström and Janus Friis, the successful entrepreneurs behind Skype and the Kazaa file-sharing service. Development began in 2006 under the codename "The Venice Project," with the official launch in 2007. Zennström and Friis, a Swedish and Danish duo respectively, had a track record of disrupting industries, first with the peer-to-peer (P2P) file-sharing application Kazaa, and then revolutionizing telecommunications with Skype, which they sold to eBay in 2005 for a significant sum. Their vision for Joost was to merge the best of television with the best of the internet, creating a legitimate, ad-supported platform that would appeal to both consumers and content owners wary of piracy.

The business operated in the burgeoning online video market, aiming to deliver professionally produced television shows and movies to a global audience. Its business model was centered on advertising revenue, with video ads and clickable overlays integrated into the content streams. Joost secured partnerships with major content providers, including Viacom (MTV, Paramount Pictures), CBS, Warner Music, and Endemol, which was a significant achievement at a time when many media companies were hesitant to embrace online distribution. The primary clients were media conglomerates looking for a secure way to distribute their content online and advertisers seeking to reach a digital audience.

Initially, Joost's service was delivered via a proprietary desktop application that used P2P technology, similar to its predecessors Kazaa and Skype. This approach was intended to reduce distribution costs by having users relay video streams to one another. The platform featured near-TV resolution video, interactive widgets for chat and ratings, and content channels akin to traditional television. However, the requirement to download software proved to be a significant hurdle for user adoption, especially as browser-based competitors like YouTube and Hulu gained traction. In late 2008, Joost abandoned its P2P client and shifted to a Flash-based web player to make the service more accessible. Despite this pivot and even releasing an iPhone application, the company struggled to compete. By 2009, Joost changed its business model again, moving away from being a consumer-facing service to providing white-label video platform technology for other companies. This strategic shift was short-lived. In November 2009, the company's assets were sold to Adconion Media Group. The Joost.com site was eventually suspended in 2012 and its technology was folded into another Adconion acquisition, smartclip.

Keywords: Niklas Zennström, Janus Friis, online video platform, peer-to-peer TV, P2PTV, internet TV, video streaming service, ad-supported video, Venice Project, Skype founders, Kazaa founders, streaming media, digital distribution, Viacom content deal, Adconion Media Group acquisition, white-label video, online advertising, video content delivery, Flash video, desktop video player