Just finished a little script to protect against video hotlinking.
http://tools.webspacemania.com/vprotect/1/fudge.wmv
Basically what the script does is disables videos unless the person linking or hotlinking the video has a banner for the site displayed..
http://tools.webspacemania.com/vprotect/make.php
now visit this page you will see a banner.. close it and come back and try the link again and you will notice the video works fine now
If anyone is interested in the details let me know.
This is a GREAT move for sponsors, as it allows you to ALLOW your affiliates to hotlink your videos easily AND promote your site while disallowing blatant hotlinking..
There are many features that can be added to provide even more functionality. such as adding popups if people try to hotlink the videos ( but still allowing the video to be played ) or displaying alternate videos
Its also built to allow individual banners for each video before they can have access ( so they cant just view the banner once then view all the videos )