International brands Coca-Cola and IBM have signed advertising deals with video streaming website Joost ahead of its impending launch.
The corporations are among 32 major companies who have agreed contracts with the site, which has been developed by Niklas Zennstrom and Janus Friss, creators of Skype and file-sharing program Kazaa.
Since the unparalleled popularity of YouTube, video streaming sites have long been touted as the future of internet media but question marks have been lingering over how profitable the service will be.
But news that some of the world's biggest advertisers are backing Joost demonstrates that web advertising on video technology is likely to be a major growth sector over the next few years.
Co-founder Friis added: "Our success in lining up leading brands from around the world is a testament to our delivery of a unique advertising value proposition."
The company will work with Frank N Magid Associates to measure user consumption habits and advertising efficacy, including ad awareness, receptivity, engagement and intent-to-purchase for their clients.
David Clark, executive vice president of Joost's global advertising, said: "Joost has attracted partners from every major brand category because we offer an advertising platform that is similar to TV, with high-quality programming - and we're providing unparalleled user statistics and insights, as well as an unmatched level of interactivity, targetability and measureability."
