guidance in launching video site

Hello,
I been charged with developing a video site similar to youtube. It probably sounds familiar.

I have been looking at many software solutions:

Attachmax Video File Script (http://cihilt.com/)
http://www.rayzz.net/
Social Media V2 (http://www.entertainmentscripts.com/social_features.php)
Top Media Script (http://www.topmediascript.com/features.html)
http://www.clip-share.com/
http://www.magnify.net/
http://www.vshare.in/

The site will have some original video content, but then allow users to upload their own videos for submission to a contest. I would also like a feature where the admin must approve an uploaded video before it is posted to the site.

Does anyone have any recommendations for a solution? Any insight someone can give me?

Thanks,
PoJ

The problem you are going to run into is actually converting the videos to a suitable format. Now days the format is .flv

If you own your own server you can do this for free, if not you will be paying a pretty penny.