Megavideo, a new online video sharing site from the brains behind Megaupload claims that it’s a YouTube beater in the making. In a video on its homepage, the firm lists ten reasons why it is better than the current market leader:

1. Video publishers can earn money through a rewards program.
2. Publishers can also earn money through AdBrite in-video advertisements.
3. Users can move the playback position to anywhere in the video.
4. The website supports twenty languages.
5. The video player can be customised to match the designs of websites where you want to embed.
6. There is no maximum playtime for video uploads.
7. Video conversion takes no longer than 30 minutes.
8. Videos can be uploaded in batch.
9. Original video files can be downloaded.
10. “Megavideo loves you more than YouTube.”

Only seven of the reasons are truly valid, since YouTubers can skip to any point in a stream, can now customise videos to suit their websites, and the last point, well … is just a bit desperate.

The site is set out very much like YouTube, making it easy to navigate, but we wonder whether Megavideo is jumping on the video sharing bandwagon a bit too late.

[Visit Megavideo]