Videojs is a free and open source web video player that can be embedded in a website to run videos.
Videosj is build for the HTML5 pages.
This can play HTML5 and flash videos.
Moreover YouTube videos can be playes with supported plugins.
Moreover its platform independent and runs smoothly over mobile and web.
The greatest thing about Videojs is the customizability. As others have mentioned, it is open-source, making it very highly customizable. The embeds are quick and easy and look cleaner and higher-budget than YouTube. It looks sloppy to have the YouTube logo in your videos on your site. Using Videojs makes your presentation a seem less amateur.
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