One of the more compelling stories at the recent NewTeeVee conference in San Francisco was being told by Move Networks, whose broadcast-quality Web TV platform is being used by major industry players including ABC, Fox, the Discovery Channel, CWTV and Mexico's Televisa.

The Utah-based company's brain power comes from a group of engineers who set out to solve the problem of network latency, which so often degrades the viewing experience of video delivered over the Net.

Their solution is called adaptive streaming, which detects how much bandwidth is currently available on a given network and combines that data with the requirements of a specific download. The video stream is then broken into clips that are sent at different bit rates and use just enough bandwidth needed to maintain a smooth viewing experience.

The demo that Move Networks West Coast sales VP David Rice was showing at the conference was impressive, especially since the company's booth was sharing the local network with other exhibitors at the show.

The company now has 100 employees and has raised a total of $45 million in venture funding, including an $11.3 million round in February led by Hummer Winblad and a $34.1 million October round led by Benchmark Capital.

Move Networks is streaming 100,000 videos per month and as of this week has now served up 22 million downloads, according to a company spokesperson.