This is growing into quite a saturated field with players like Ooyala, Brightcove, MIG69 and Swarmcast fighting hard for pieces of the pie.

Spotlight is an entirely SaaS-based platform that wants to make it easier for businesses to maintain a social network for video or channel campaigns, make money on their library of professional content via video advertising, distribute videos in playlists through a brand’s library of content with a custom design that fits their brand specs, and more.

In essence, the software is designed to allow businesses to create a micro-community around content and utilize a feedback mechanism which allows them to publish content across various destinations but see and evaluate that feedback in one centralized location.

Pricing is unclear but it will be based on usage and consists of a monthly fee that includes storage and a bandwidth delivery fee. There’s a free 30-day trial for you to give it a spin.

Update: pricing details came in: the monthly fee is set to $1,000, delivery fee is variable and based on usage (per GB) and 100 GB is included.

Reality Digital is venture capital-backed; it has raised $8.3 million to date, most recently closing a $6.3 million Series B round back in March 2008. It has signed up an impressive roster of clients the past few years, including Nokia, MTV, Pepsi, NFL and Hyundai.

In addition to video-uploading, Reality Digital’s platform can also handle audio, blogging, mashups, mobile uploads, profiles, forums—pretty much any feature that you’d see on MySpace or Youtube. It also includes a full management suite that lets companies monitor usage and manage advertising campaigns. Customers include MTV Networks, the Travel Channel, Lonely Planet, and the Daily Reel Reality Digital also powers the back-end of Adobe Premier Express, which is Flash-based software for creating video mashups. Reality Digital competes with KickApps, VSocial, and VMix.