In another milestone for online video's evolution, independent online studio My Damn Channel is announcing today "My Damn Channel LIVE," a live daily comedy show. The show will be featured on My Damn Channel's web site and on its new YouTube channel. It will be streamed at 4pm ET starting a week from today and will be hosted by Beth Hoyt, an up and coming actor/writer/comedian.

The show is envisioned as a late-night talk show, but updated for all the elements that online offers. The format will include celebrity interviews, interaction with viewers, promotion of other My Damn Channel comedy shows and engagement with talent from other YouTube channels. Viewers will also be able to catch up on the show on demand.

My Damn Channel LIVE is another example of how online video is encroaching on TV's traditional turf, in this case, the late-night format. And it also demonstrates how YouTube's $100 million investment in original video is beginning to play out. As I've asserted in the past, YouTube's backing is helping fledgling programming ventures like My Damn Channel LIVE with initial funding, distribution and promotion, all of which are critical in getting off the ground.

While it's too early to judge how successful My Damn Channel LIVE will be with audiences, the mere fact that it is possible shows how online video is continuing to mature.