Yahoo's service will offer more generous revenue-sharing deals for creators, AdAge reports.
Google's YouTube takes 45% of ad revenue, but Yahoo is expected to offer a split that tips more in favor of creators.
Yahoo intended to unveil the new service in April, but contract issues ultimately delayed the the launch. One point of contention was around content ownership. Early drafts of the contract gave a video's ownership rights to Yahoo.
Similar to YouTube, Yahoo video creators will be able to have their own channels. Yahoo's video player will also be embeddable on other sites.