I’ve been waiting for a web-app like this one for a while 
Launched in September 2006, Mojiti is a tool for annotating video. In its most basic form, you can use it to add subtitles or captions, but it’s actually way cooler than that. It allows a community to contribute hypermedia (i.e. links, images, other videos, feeds, comments) within the context of the video.
For example, in a show/podcast like Webnation that displays a bunch of URLs, you can create hyperlinks inside the video for people to click on. The community can also contribute contextual data inside the video (e.g. what is happening in each segment), and produce an index. From that index, you can jump to that timecode inside the video.
Whereas Joost is IMHO turning out to just be traditional TV on the web, the Mojiti-model is truly leading the way towards “Interactive TV” (excuse the buzz-word). The moment I can watch a newscast, and click on anything they say/show/do to see more information, then we’ll be making progress
To try it out, I annotated the first few minutes of the ‘Webnation’ premiere. You can also check out their tutorial here or a cool demo here.
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