The technology supports computer DVD quality and HD video material, and is also interactive, enabling opportunities for advertising within videos.
The company is in discussions with two advertising agencies, a record label regarding a music video release and a TV production company for a project to put its back catalogue online.
Luke Wheeler, co-founder and director of Recast Digital, said: "Software downloads are a barrier for many consumers because they are obstructive and time consuming. Unlike our competitors in HD web video, our technology is less computer-intensive, requires less bandwidth and doesn't require any special software download."
