Microsoft announced streaming support for Silverlight at Mix07 conference, the service allows web develeopers to host and stream up to 4Gb of videos for free. The videos can be streamed at 700kbps. Silverlight streaming works in conjunction with Silverlight browser plugin released earlier. Silverlight is a cross-browser, cross-platform plug-in for delivering the next generation of .NET-based media experiences and rich interactive applications (RIAs).

While the product is in pre-release, storage and delivery is free up to 4 GB, with outbound streaming up to DVD quality (700 Kbps). As we move out of Beta, developers/designers will have continued use of the service with up to 1 million minutes of free video streaming at 700 Kpbs per site per month. Unlimited streaming will also be available for free with advertising, or with payment of a nominal fee for the service for use without advertising.

Microsoft also announced the availability of Silverlight beta for download and support for .NET platforam, supprot for dynamic languages like Python, Ruby.

In addition to making the beta of Silverlight available for download, Microsoft announced unprecedented support for dynamic languages including Python and Ruby.

More on Silverlight
Microsoft Press Release on these announcements