The service will launch in Japan first, with possible expansion into other markets coming later on.
Rather than providing existing media, the announcement indicates that Nintendo is looking to use the service as a means of providing original content, developed either by Nintendo or outside companies. Free and priced videos are being considered.
"Nintendo and Dentsu shall use the environment surrounding the Wii so that living rooms with Wii-ready TVs would become more of a fun area for communication among families and friends," said Nintendo and Dentsu in a joint statement, as translated by AFP.
40 percent of Wii consoles are connected to the internet, representing a large untapped market for video producers.
Fujisoft is already planning to offer a Wii-based video platform with Minna-no Theater Wii (Everyone's Theater for Wii), set to release in Japan on January 27.