Variety is reporting that NBC Universal is launching a YouTube competitor called Didja.

NBC Universal is expanding its battle against YouTube and other viral video sites, using the weight of its top-rated USA cable network to launch an all-advertising website called Didja.com.

Set to launch early next year, site will offer a vast archive of current and classic TV spots, movie trailers and other “brand-related content.” USA-Sci Fi Channel prexy Bonnie Hammer said the goal is to “become the go-to destination for on-demand advertising content.”

“Didja.com is the logical next step in the changing dynamic between consumers and advertisers,” Hammer said. “There’s no doubt that commercials are major drivers of pop culture — all you have to do is check out traffic on any video-sharing site. We want to own that watercooler conversation.”

This was news a while back, but because it didn’t have an official name, the fellas at Techcrunch dubbed it “clown co”.

The site is all about advertising and NBC getting paid for it. NBC hopes advertisers will pay for prominent placement on the site or to create their own branded pages (e.g. an all-McDonald’s channel). The customizable branded pages will allow advertisers to upload commercials to the site, include product offers, store locators, and other tools.

For viewers, the site will feature an extensive social networking component as well as a mash-up tools to remix their own “advertainment”.

More at Techmeme and Mashable.