Jay Fienberg on Video as the New Audio:
The “videos” on YouTube are web pages. But they are very object-y, with the video player being the object people see, share, favorite, etc.
Meaning: in reality the new format is not video in isolation but YouTube pages as a whole. The change isn’t towards generic video files, it’s towards a web-based user experience that includes the web-based containers for videos, and which for the most part is specific to YouTube.