Panda: Merb-Based Video Uploading, Encoding, and Streaming System
Supplied primarily as an Amazon EC2 AMI (a virtual server machine image), Panda combines a Merb application and FFmpeg to offer an all-in-one video uploading and conversion system. It uses REST throughout, so is easy to integrate with your other applications. The system is offered under a BSD-esque license.
Panda would be ideal if you want to offer video uploading and streaming features on your site, but you haven't got the time to implement a lot of the "back end" functionality. Just get a Panda instance up and running, and start making API calls - you can have the whole system up in under an hour.