"It's not much of a surprise that Google has opted to wind things down with Google Video, considering Google owns YouTube, which according to comScore's January figures, is the number one online video content property with 144.1 million unique viewers per month. Google launched Google Video in 2005, and purchased YouTube the following year. Additionally, Google stopped accepting uploads to Google video a few years ago.
So what will happen to videos hosted on the site? Google is asking that users move their content over to YouTube.
'Later this month, hosted video content on Google Video will no longer be available for playback,' read an email sent to Google Video users. 'Google Video stopped taking uploads in May 2009 and now we're removing the remaining hosted content. We've always maintained that the strength of Google Video is its ability to let people search videos from across the Web, regardless of where those videos are hosted. And this move will enable us to focus on developing these technologies further to the benefit of searchers worldwide.'"
(Leslie Horn, 17 April 17 2011, PC Magazine)