The Adobe Max 2007 conference is going on right now in Chicago, and yesterday the company announced the release of their new Adobe Media Player.
The Adobe Media Player is an AIR application designed to give users the ability to view and enjoy Flash video content wherever and whenever they want, both online and offline. Instead of scraping content from the web, Adobe Media Player will be enhanced by content publishers. Additionally, publishers who would like to monetize their content via advertising will be offered a co-branded version of the player.
Adobe Labs gives a fairly explicit breakdown of how their new media player can be used and enhanced by end-users and content publishers. Some examples include discovering new Internet TV shows, automatically downloading new episodes of your favorite TV shows, and managing personal collections of Flash videos for end-users as well as dynamically delivering banner ads and increasing viewership through RSS for content publishers.