Videonow, the first-ever Internet-based video advertisement system to be used in Russia has been launched, Lenta.ru reported Tuesday. The technology will allow advertisers to distribute video clips and banners on Russian-language Web sites.

Video ads are expected to permit more precision in reaching target audiences.

The first video ad to be released by the firm will be launched in mid-December. The project's developers said they planned to publish information about Videonow's effectiveness in the near future, Lenta.ru reported.

Current Videonow partners include Zvezdi.ru, TheChannel, FBTV, Mopoto.com, MuVi, Games-TV, TV-Clik, AG.ru and KMTV.

According to the Web site's creators, nearly 150 million video clips are seen each month. Videonow will allow 10 million clips and teasers to be shown per month, according to Lenta.ru.