The service launched in November as a limited beta test and allows content owners to post broadcast-quality content online and viewers to access it for free. It is based on a community-driven website that can be accessed by anyone with a broadband connection.
The platform also provides a targeted advertising-supported system that allows revenue to be shared with content providers.
Joost claims that its site and software are piracy-proof, and its makers guarantee copyright protection for content owners and creators.
Joost chief executive officer Fredrik de Wahl claimed that the service gives viewers free content without compromising rights. 'People are looking for increased choice and flexibility in their TV experience, while the entertainment industry needs to retain control over their content,' he said.
De Wahl added: 'The name Joost has global appeal, embodies fun and energy, and will come to define the best of TV and of the internet'.
The service was developed by Niklas Zennström and Janus Friis, who also founded peer-to-peer downloads service Kazaa and internet telephony service Skype.