WorldTV, an online TV startup letting users mix clips from video sharing sites as well as from their webcam, launches next Wednesday, aiming to let folk make their own internet TV channel. It’s a Flash-based interface that lets users add clips from YouTube, Metacafe, Yahoo, Google (NSDQ: GOOG) Video, Blip.tv and more, then sequence them in playlists to be viewed on-demand in the browser or at full-screen. Privately funded, It’s a 15-strong team scattered around the world but London-based co-founder Alx Klive told paidContent:UK the site will later allow programmers to add ads between clips from which they’ll get a revenue share.

The business model has two other planks - a prosumer version will require subscription payments for additional scheduling features and an enterprise version is courting broadcasters in the same way Joost and YouTube have (with the addition of an MTV-style logo overlay). There’s a whole industry ready to open up selling ads off the back of clips hosted by video sharing sites, but in marginally different ways. WorldTV will need to ensure such sites don’t get peeved as they start their own video advertising programmes, but Klive said he has received no objections from Google and WorldTV credits the original host with a link back.