I just saw this Kaltura Christmas special in TechCrunch and it finally spurred me to write a bit about an interesting battleground that is forming between video platform solutions which are releasing access to their platform through drupal modules.
We already signed contracts to custom develop the flash player and another one using limelight as a CDN when we understood that we could have used Kaltura for these issues.
We ended up building our own solution which needs to address issues like transcoding, integrating drupal and the flash using the services module, cdn integration and more.
It was very interesting but not all implementers have the time to research and understand what it means to build a enterprise level video platform.
As Kaltura realized the potential of Drupal they contacted us and we helped brainstorm with them about different design decisions and the "drupal way (tm)" of thinking and approaching stuff.
So Kaltura has one offering which is interesting but there are additional players in this field.
The main competitor in this field seems to be workhabit's CDN2 which have a lot of drupal history and seems to be a solution crafted soley for drupal.
Beyond this matchup you could probably "build you own" with a combination of mediamover, cdn and others but what I like about the more commercial solutions is the slickness of their players.
Currently the main difference between the two solutions is that the Kaltura module is for drupal 6/acquia and promise a drupal5 solution real soon, and that workhabit's CD2 is supported for drupal 5 and promise a drupal 6 version real soon.
Anyway I wish I had the time to make a serious competitive analysis between these solutions - any takers?