Huge internet content backbone Akamai is introducing their new on-demand, streaming HD Network, along with support for... the iPhone. Says Macworld:

Akamai worked with Apple to make HD Network video run on the iPhone using the standard H.264 format. The iPhone 3.0 software upgrade, introduced in June, added support for live video. Content providers can use the HD Network to deliver programs for the iPhone through the Safari Web browser or an application offered on the App Store. The videos can play on the phone’s video player, as YouTube videos do now.

We've heard about iPhone 3.0's HTTP Live Streaming capabilities before, and if this uptake is real, we're getting increasingly excited about our iPhone media future...