Joost Partners with YoungHollywood.com

Remember Joost.com? Once upon a time, this streaming video start-up founded by Skype creators Niklas Zennstrom and Janus Friss was going to rule the Internet TV world. Now the Santa Monica based firm will be happy with a modest portion of Tinseltown.

Asset-purchased in the fall of 2009 by Adconion, Joost has announced a new content partnership with YoungHollywood.com, a company founded shortly after Joost by R.J. Williams (pictured). The crux of the deal involves plans to beam out 18-to-34-tastic content from a studio facility near the Four Seasons Hotel in Beverly Hills. Per the press release:

The new partnership allows Joost everything the YoungHollywood site offers to brand-centric advertisers: a powerful combination of engaging and high impact in-stream pre-rolls and in-banner display media, homepage takeovers with page re-skins and all forms of interactive, rich media offerings.

That’s definitely a multimedia mouthful. But it would probably be foolish to underestimate Williams, a one-time child actor and USC film school graduate.