Bebo is a British social network, but a slew of new media deals may give the site the reach of a traditional broadcast network. In separate deals with CBS, BSkyB and the BBC, Bebo will bring free video to its 40 million users.

Under the terms of the deals, content providers will be able to use Bebo as an internet distribution site while keeping the bulk of the ad revenue generated by the content.

"Every media company is looking for better ways to deliver their content online," Bebo president Joanna Shields told Reuters. "By opening our platform to media owners, who gain free access to our community while retaining control over their brand, their content and their revenues, we are creating valuable new inventory for advertisers and a new business model for the entire media industry."

While the deals include traditional media companies, web video startups are also getting in on the action. Crackle, Sony's user-generated video site, will push its content across Bebo's network, which is populated primarily by younger users.

Bebo, which has traditionally competed with Facebook and MySpace, see the venture as a way to lure users away from its rivals. However, its new video model also puts it into direct competition with the likes of YouTube and Hulu, a joint venture from NBCU and News Corp.