Veetle is a Web Site and software development set that resulted in an new Web TV platform. It comes out from Stanford University graduates, who seek to give the power of high quality video broadcasting back to the people. Here, you can watch and broadcast video in TV and High Definition quality, from sources like files, DVDs, capture (using directshow), and "other".
It is in Beta stage, resulting in a very tricky application
The complete Veetle toolset is composed by three elements: Player, Broadcaster, and Web Site. Supposedly, we were going to review the broadcaster exclusively; but it is highly recommended to visit and know the complete set in their website, because each element of their platform runs over a web browser.
It's always been the case that high-end video broadcasting can be done only by a few big media companies. Now, that power is in your hands. As long as you provide a good video source, it can be broadcasted in high quality, depending on your broadcasted video's quality.
It looks like the former VLC (now known as VLan) browser plug-in, supported for some kind of P2P bandwidth sharing, perhaps through a server.