Last year, Flickr began allowing its Pro members to upload 90 second videos. Now, Flickr is letting all members upload videos, but there's a caveat. Members using the free version of Flickr are limited to two 90 second videos a month (which is in addition to the 100 mb monthly photo upload allowance).
Additionally, Flickr is now enabling HD video, something YouTube recently has done as well. However, only Pro members can upload HD video.
Flickr has also launched the "Flickr Clock." It's a time line of videos by users about what's going on in their world at any given moment. Here's a screenshot:
If you click on one of the long, vertical strands, it expands to show the video clip: