Verizon officially announced that it is now offering a V CAST Video application in the Verizon channel of the Android Market found on its Android powered smartphones.  Use of the app requires a $10 monthly service fee, which provides users with access to video clips from television networks such as ABC, CBS, NBC, and FOX.  It does not, however, provide access to live TV.

As of this moment, as I write this, the application is still not showing up on the HTC DROID Incredible or LG Ally.  I’ll give it a look-see when it finally shows up, which should be soon.

Update June 8, 2010: I finally found V CAST Video in the app store. I installed it easily enough and signed up for a $3 one-day pass.  If you are interested in it, I suggest you do the same since the video quality is pretty low. Certainly not worth $10 per month in my opinion.