Using Video to Improve your SEO

Google recently announced its plans to discontinue the services of Google Video. This comes as no surprise to many as rumors have gone around for a while about Google’s plans to increase the use and relevance of YouTube videos. YouTube
Google purchased YouTube in Oct. of 2006 for a lofty $1.65 billion. YouTube is still seeing daily video uploads in record quantities. So how can utilizing YouTube video help your SEO?