Yesterday YouTube announced a deal with Verizon to take video clips mobile (if you were reading Mashable, you would have seen the news two days ago). Today, Verizon Wireless is announcing an agreement with Revver that does the same thing - it'll be launched in early December and available via the VCast service, which costs $15 per month. Revver's unique angle is that it shares 50% of the ad revenue with content creators. There won't be ads on the VCast service, but if your clip appears on phones, you'll receive a cut as part of the licensing fee with Verizon.
Revver currently claim to have 40,000 regular contributors, although the stats suggest that they're only a fraction of the size of YouTube - if they were to add comments and community to the site, that could increase dramatically. And while Revver claims to have higher resolution clips, I find these to be extremely slow loading - perhaps another reason they trail the leader.