Megavideo
Megavideo is known for its good quality clips and fast loading times. It has gained widespread use because of it's large filesize allowance on uploads.
MegaVideo is a video sharing website based in Hong Kong. According to Alexa Internet, it is one of the 100 most visited websites in the world. The website officially claims to aim replacing YouTube.
Megavideo also survives due to its strong ties to advertising, which helps pay for the bandwidth and hosting of its content. Youtube is currently also accepting payments for advertising on their site, where companies are creating videos which resemble 'homemade' videos, but usually with clearly higher production values.