CourseCast was originally developed by Carnegie Mellon University and is now run as a commercial operation by Panopto. Carnegie Mellon are keen “to give back to academia in a manner in which [they] received benefit” and consequently are making CourseCast available to accredited academic institutions via their Socrates Project. If you would like to see what is possible with the CourseCast system you can see some of Panopto’s showcase examples here.
[Chris Warren at Williams College has prepared a short presentation on the benefits of lecture capture]