Toronto-based Jokeroo Entertainment has developed a new ad opp into its online video site, Jokeroo.com. Warner Bros. is currently using the tech for its Speed Racer campaign. It is similar to ad offerings from Jokeroo’s closest competitors, such as Heavy.com, or perhaps a homepage takeover, but can take a user by surprise.

The fade-out looks like this: When a user visits a video marked with a fade-out ad, he/she sees the video box on Jokeroo.com. All space around the video box is then slapped with clickable ad creative, which fades out (with standard units remaining on the page). The Warner Bros. Speed Racer campaign can be easily viewed by following this link, but a user needs to clear his/her browser cookies to view it more than once.

CEO Chris Pavlovski tells MiC that Jokeroo.com has roughly 700,000 unique monthly visitors in Canada, according to comScore’s January 2008 numbers, but his company’s internal figures peg the audience at around one million. The company also has syndication partnerships with Canoe.ca and Yahoo! Canada.

Check out MiC‘s previous coverage of Jokeroo.