Interesting post over on Beet.tv about Justin.tv and Amazon. According to Andy, Amazon is the company that is "distributing" the Flash video on Justin.TV. I put it in quotes because I'm not 100% sure what distribution means in this case, but the gist from Andy's post is that Amazon is actually hosting and streaming Flash media content:
Amazon has made a big push in Web services and in providing content delivery services (CDN) to small and large video publishers. We understand from industry sources that Amazon is deeply underpricing the charges of established CDN companies like Akamai.
That's pretty significant. I haven't talked to anyone inside of Adobe to get specifics, but if Amazon is getting into the business of streaming Flash content, that's probably going to mean lower prices and possibly make it more accessible. I've heard nothing but good things about Akamai (and they hosted the bike tour that was so impressive earlier this year) so if I hear more from anyone at Adobe or Amazon or Akamai (the A team?) - I'll update the post. It could be nothing more than S3 storage.
Update: Someone pointed me to this post by Stefan Richter, it does a good job of explaining how Justin.TV works. It sounds like they've basically rolled their own streaming server using Python and RMTP (the protocol Flash uses to stream).