People now watch more than 70 million videos per day on YouTube, and it is the 17th most trafficked Web site in the world, making YouTube the leading entertainment destination for video on the Internet. - Source: YouTube Press Release

A network representative confirmed a report Tuesday in The Wall Street Journal that NBC has plans to upload promotional video clips of some of its TV shows, including "Saturday Night Live" and "The Tonight Show with Jay Leno." The entertainment company, owned by General Electric, will advertise on YouTube and promote the site on some of its TV shows. Financial details were not disclosed. A YouTube representative did not return calls for comment.
The craze over sharing homemade videos on the Internet is beginning to draw some big-time Hollywood players. On Monday, Warner Bros. announced that Internet video site Guba has started selling downloads of the studio's movies and TV shows. Guba is the first among the video-sharing sites to offer full-length movies.
NBC will sponsor a contest in which fans of "The Office" can create their own 20-second promotional clip -- as long as they don't use any copyright footage from the show. NBC will provide music, graphics and a "how-to" video.