There has been quite a few developments around digital media on webosphere in the past couple of days.
Microsoft put out its soapbox video service beta (invitation only though..) and has been talk of blogosphere today. Obviously it competes with Youtube. Om @ Gigaom blogged about it yesterday.
Yesterday, AOL opened up its video search engine for developers. The AOL Video Search Developer Center states that there are two APIs essentially one for REST/AJAX API. There are also sample mashups showcased on the site.
There are also rumors about Windows Live Drive, TechCrunch has more details and the story about the "Deleted" blog post.