This paper presents an object-based interactive video system providing a new advertising paradigm that induces a viewer to take interests in the objects in the video and to buy the goods related to them by clicking or touching them while watching the video. This system could be used to create a new form of e-business applications such as consumer-driven advertising and audience-specific advertising. This object-based video system offers new interaction possibilities of the streaming video and the opportunity to move electronic commerce from personal computers to television receivers or smartphones. This paper presents the schematics for creating an object-based interactive video system and describes an authoring tool to create the interactive video. Finally, we also examine the business opportunities and challenges of the interactive video.