One of the moves that has made YouTube successful is the ability to embed YouTube videos on any site. Now YouTube is going a few steps further and giving web developers tools that will let users upload and edit YouTube videos from any web page.
What that means is you can essentially build a web page that lets visitors upload videos of kittens and puppies doing cute things, send video responses to one another, edit their video metadata, and never ever have to click through to YouTube, even though all of the transcoding and file hosting is taking place on a Google server.
Web developers can also customize the look and feel of the YouTube video player using a new Javascript API.