This seems to be part PR behaviour and part future proofing. As we all know, eventually there will be just a single piece of kit in your living room through which you can access all media formats; TV, music, the internet (and so Youtube) and probably all manner of other things things that haven't even been thought of yet.
This has garnered a lot of attention and so has done the PR bit well.
By providing videos in an HD format Youtube is making itself the video browsing site of choice for the home viewer of the future. As we have all believed the hype that our non HD TV's will soon be obslete we may feel validated by the fact that such a market player is heading in this direction.
Glanceable content. Thats the media of the future. Its all around us with Youtube clips, mobile/web only TV shows and mainstream TV programmes like Rudetube being born from the web. As I believe it though, the videos have to be recorded in HD form to be then shown in HD. This can only be done on expensive camcorders. Youtube is the land of the cameraphone so until we have HD quality camera phones...this may be ahead of its time.
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