Adobe is working on a media player doubed “Philo”, its a visual RSS aggregator. Meaning you can feed it a RSS stream and it will take and pars the data and with a few extra lines in your RSS file that contain branding assets Philo will pull in header, footer and other graphical assets needed to customize the look of the player.
Along with the standard text RSS it will support Video RSS allowing users to subscribe to tv shows and stream directly in Philo. Blip TV is also involved in the release as a content provider and is offering these new RSS tags to allow Philo to display these branding elements and advertising features.
Philo will also support advertising as well as aboves, which is video over video advertising, kinda like the watermark you may see on TV. Philo will place those adds in real time over top of whatever streaming video you may be watching.
Basically there is a tone of cool features and you should watch the video to learn all about it. Have a look here.
Link:
http://video.onflex.org/2007/05/03/deeje-cooley-adobe-media-player-philo/
http://www.bliptv.com/