Your users will enjoy features like uploading the videos in the free option, so if you want to open a free video service like youtube and make money from online ads this is perfect to you.

The admin and your users will enjoy:

Submit videos,rate and review videos, send the video ot friend, play video in popup window or stream from front page,User can add code to their website to play videos,download the video to their computer,More from this user (feature) Thumbnails of the videos,sort order (newest to oldest,most popular,category) Plus many more features! There is literally no other website or module that can offer all of these features.
management,polls and voting and video comments just to name a few.

Requirements
MySQL (version 4 or higher)
PHP (version 4.x)
Fmpeg (http://ffmpeg.mplayerhq.hu)
FFmpeg-PHP (http://ffmpeg-php.sourceforge.net)
Mplayer + Mencoder (http://www.mplayerhq.hu/design7/dload.html)
flvtool2 (http://inlet-media.de/flvtool2)
Libogg + Libvorbis (http://www.xiph.org/downloads)
LAME MP3 Encoder (http://lame.sourceforge.net)

NOTE: Not all shared web hosting support requirement for YouTube Clone Script.

You can get web hosting with support for YouTube clone script from http://www.hostonnet.com/ffmpeg_hosting.php