Amazon Elastic Transcoder

Amazon Elastic Transcoder is video transcoding in the cloud. It is designed to be a highly scalable, easy to use and a cost effective way for developers and businesses to convert (or “transcode”) video files from their source format into versions that will playback on devices like smartphones, tablets and PCs.

This might be a good alternative for services like Panda Show archive.org snapshot which charge a large monthly fee just to be available for your encoding requests. Amazon's service bills by usage instead:

A 10 minute source file in EU (Ireland) transcoded to one SD and one HD output will cost (10 x $0.017) + (10 x $0.034) = $0.51.