Hitwise is reporting that YouTube: 50% More Traffic than Other Video Sites Combined.

Wow! Talk about an elephant in the room, errr, filling the room. What does this mean? Does it mean that there’s plenty of room to grow for smaller tools? Or does this mean that YouTube simply just crushed them?

YouTube’s growth has not begun to slow yet this year. Hitwise traffic data shows that the market share of US visits to YouTube has increased by 70% when comparing January 2007 to May 2007 (this only includes site visits, not streams or streams from views on embedded videos). In comparison, the market share of visits to a custom category of 64 other video sites increased by only 8% in that period. As of May 2007, YouTube’s market share was 50% greater than those 64 sites combined.

More at Techmeme. Mashable too.