The more I play in the online video space, the more I like it. Normal blogging is difficult because the moment there was money in it, everyone started trying to game the system by stuffing posts with keywords, maximizing titles for SEO, but writing meaningless drivel in the post itself. As a result, Google gives you lots of garbage when you search for things. When you write good posts, they don't always get read. Blogs have a distribution problem.
Video is the opposite. You can distribute the hell out of a video by uploading it to the top 10 or 15 video sites, and tons of people will see it. It's a discrete chunk of content that can be part of a blog, or can stand on it's own. And you don't face the duplicate content SEO penalties that you get from posting the same text all over the web. Instead of a distribution problem, video has a content problem. Most of the content is weak, and overwhelming falls into one of three categories:
1. Stuff you have already seen (tv and movie clips, etc)
2. Stuff shot with a cheap webcam that wasn't edited
3. Shows about technology and gadgets
So there is plenty of opportunity for people to come in and create unique content that, with a little editing, is a step above what Joe Webcam can do. If you want to promote something on the web, online video is the way to do it for now. On top of that, there are many related problems with measuring and tracking and all that jazz that present great entrepreneurial opportunities.
And since I'm talking about video, check out this one of the very funny Noah Kagan.