They have other videos beside music. It caught my eye as the videos loaded quickly and there was some good stuff on there, i.e.
Nice find Jay!
Looks like they’ve invested in the Macromedia (Adobe) Flash Media Server, it’s excellent for exactly this, streaming video.
You can see how they’re making their money too, 30 sec ads before the videos play and amazon affiliate links.
Very slick, I like the way you can navigate around all the different sections while your video is still playing with very very very very little lag, instead of the Google Video and YouTube effect where you have a million searches all on different pages/tabs.
If you think riding across town on a motorbike is taking your life in your hands, check out Big Wave Jaws: http://www.gotuit.com/player.php?c=Sports&p=76732&s=1369027
:edit The only UI element that it’s seriously lacking is a scrubber, damn annoying if you want to rewind just a bit. They may have left this out to reduce bandwidth and it is still (in classic Web 2.0 style) in Beta.