We've been hearing scant details about a video service called Vdio for over a year now, but a few more significant chunks of information have come out today now that the service has entered a private beta in the US and UK. The service comes from Janus Friis, who founded the subscription music service Rdio — as well as Skype — but contrary to initial reports, it will not be an all-you-can eat video service. Instead of aiming for Netflix, Vdio looks to be another iTunes competitor.

Vdio's site has recently been updated with a sneak-peek of what the service will look like, and the terms of service reveal that users will be able to purchase or rent TV shows and movies. The terms sound rather unremarkable — most rentals will give you a 24 hour time period to watch the video, and (typically) you'll be able to begin your rental up to thirty days after you make your purchase. Of course, Vdio could still differentiate itself with its user interface, pricing, or social functionality. According to the terms of service, the latter looks to borrow quite a bit from Rdio, as videos that users watch will be shared across Vdio, Rdio, and social networks.

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That's not the only connection between Rdio and Vdio — users will be able to login to each service with an account from either one, and gift cards can also be applied to either the video or music service. Additionally, as GigaOm points out, the business address for both services are identical, and it seems plausible that the two companies could become one soon enough. Still, from what we know right now, this isn't an Rdio for video, despite the close connection, and that may be a disappointment for some.