YouTube is a new Web 2.0 company very much like flickr, but for videos. You can upload videos in a number of different formats ( .AVI, .MOV, and .MPG ). Videos can be of any length, but must be less than 100 mb in total size. Editorial restrictions consist of no nudity and your video must be appropriate for all audiences.
The service is completely free to users (publishers and viewers).YouTube converts video to a flash format, and therefore upload and playback is extremely fast. Videos uploaded significantly faster than in other services (iFlim etc.). If you create an account with YouTube you can browse channels, add videos to your favorites, subscribe to users or tags, create playlists, and join groups among other things. YouTube is also a sharing network. You can add friends who are also member of the network, and email any video to anyone. YouTube also provides easy to use copy/paste code for emailing and posting on a Web site. You can also tag your videos, which results in bunching in a very similar way as flickr. Overall, the service is excellent.
The only bad thing about YouTube is that I think the flash video player looks REALLY BAD. It could look a look a lot better - get to work guys/gals!
Here are a couple videos out of my favorites:
The Pixies perform "Trompe le Monde" on Letterman (1991/1992)
Baby puke extravaganza!
Zach Galifianakis on Conan O'Brien 11-19-02 - I think Zach is brilliant.
Feel Great - Nutrigrain Promo