France Telecom’s Orange mobile operator has launched an ad-funded video magazine on its Orange World content portal.

NetImperative reports that the new ‘zine, called Zap!, works with all video-capable handsets, whether 2G or 3G. It features news, entertainment, sports and lifestyle video clips from big-name broadcasters including BBC Worldwide, ITN, ITV and Sky.

Advertisers can buy video pre- and post-roll spots plus targeted banner ads. Consumers will see a video ad attached to each story they watch. However, according to the report, they won’t be inundated with the same ads over and over again, because the system limits the number of times each ad is played per viewer.

IMP Media is managing Zap. Rhythm NewMedia is selling and serving the ads.