Uh oh, Skype founders working on Vdio, a rival to Netflix

According to GigaOM, Skype founders Janus Friis and Niklas Zennström are working on an online video service that will compete against market leader Netflix.
The service is to be called Vdio, similar to the entrepreneur's online streaming service Rdio.

For now, the site for Vdio is just a landing page with a "coming soon" sign, but Om says "Skype's founders have apparently been quietly assembling an A-team of media and web technology experts to launch a site that seems destined to replicate the model behind their music subscription site Rdio in the video space."

The service has been secretly under development for two years.

An upcoming closed beta service will let users "instantly watch the best in TV and movies."

More info when it becomes available.

Source is
http://www.afterdawn.com/news/article.cfm/2011/10/18/oh_uh_skype_founders_working_on_vdio_a_rival_to_netflix