XML video

I had this interesting idea and I wanted to know what people think about it.

My idea is for a new type of video "format". There would be a zip archive with a renamed extension. Inside there are several files: a "MOVIE" file in a universal format/codec (plays on Mac, Linux and Windows), an XML file for settings, and optional, additional WAV audio tracks.

The idea would be that, when played, the XML file would be parsed and loaded into memory. The XML file would contain special effects that would be overlaid on the video. The one example that comes to mind would be subtitles that can be loaded from the XML file instead of "in" the movie. If streamed, the subtitles would always be crystal clear as the ASCI text would be transmitted instead of as a bitmap (DVD subtitles are bitmaps) and then "rendered" by your computer. The movie maker can then show the video to an audience, realize he misspelled a subtitle, and then change the subtitle without re-rendering the whole movie (something I have to do all the time).

Other effects, like analog snow or blurriness, can also be applied in real-time, as well as aspect ratio correction.

A modular designer would be used so that new effects can be added to the player. My original design also included directX support for games. The XML files could be encrypted to prevent tampering, but no DRM would exist in the movies. The modular design would allow third parties to put their own DRM in the movies if they felt it was needed. Lastly, a checksum could be added to the Zip file.

My question to you is, what do you think of my idea? Good? Bad? Criticisms? Or do you think I might be able to make some money off of this :)?

-Jamie

P.S. nice new blog editor!