What is the best software solution for an internal "YouTube like" service?

I am the network manager of a school, and internally we have many videos that are used for lessons and assembly's. I have a new server that is home to all of these videos, but browsing them through a network share is cumbersome.

I would like a locally hosted service like YouTube, so that our staff can upload, tag, search and stream videos (and also possibly audio) over the LAN.

Is there a good product out there (free or paid) that will accomplish this? Can sharepoint services provide this kind of solution?

Thanks for your advice!
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JamesGHBrayAsked:
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HDSportster08Commented:
Sharepoint can provide these types of solutions as they read from a windows media file, but turn them into streaming media.  Sharepoint compresses the file to where it does not take a long time to load, so it is very :"youtubish".
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JamesGHBrayAuthor Commented:
Sharepoint Services, or Sharepoint Server?
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dereck2008Commented:
An upload applet with resume support could help to upload big videos. See:
http://www.jfileupload.com/products/jfileupload/index.html
It allows to upload over HTTP. Then you need a server-side script that will handle upload request and save files on server: http://www.jfileupload.com/products/tools/index.html

Does it help ?
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JamesGHBrayAuthor Commented:
Thanks dereck2008, I will have a look into this today and see if they help.
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