This is great news for sites that rely heavily on YouTube videos and wish to gather everything in one place. Previously, you would have needed to write your own code or rely on outside providers like Splashcast to get the job done.
YouTube’s new feature allows you to select a color, a layout, and easily add your videos, favorites, or playlists to your site using a dead-simple form.
Expect to see these players popping up all over the place in the very near future (fingers crossed!).