OnlineVideo.net has a 6 part article where they evaluate different options for hosting user generated video content. The sites considered are:
“There are two reasons to post videos to a user generated content (UGC) site; first, to reach the constituency of members, second to use the platform to post videos on your own website. Regarding reaching the constituency, for most producers, there’s no reason to discriminate, as more is definitely better. For the second, posting videos to your own website, you want the site that provides the best video quality and a reasonably featured player without potential negatives like pre-roll advertising. You also want to make sure that your use of the videos on your own site won’t violate the letter or the spirit of the site’s terms of service.” [Read More]
All the options outlined are free of charge (except VideoPress). Although more involved and not discussed in the article, using an open source DAM system would be a further alternative if you have a limited budget.