You can watch videos already on the social networking website Facebook, including YouTube clips and also home vids you post for your mates' amusement.

But a new deal could see quality content from the likes of CBS Corp's CBS Interactive, Comcast Corp's E! Entertainment channel, Time Warner Inc's Warner Brothers as well as News Corp and NBC Universal's jointly-owned video site Hulu coming to Facebook.

Third party application developer Slide is behind some of the site's most popular applications including Top Friends, SuperPoke! and FunWall.

However, its new application, which is currently under development, would allow major media companies to get their content onto Facebook.

Slide is not releasing many details but has said that it has signed revenue sharing advertising agreements with "several key partners" for the video service called "FunSpace Channels".