YouTube revealed that it was actually a massive competition — a competition that would end at midnight with the closing of the site, allowing the judges to spend the next ten years reviewing every video uploaded and declare a winner.
Tonight at midnight YouTube.com will no longer be accepting entries. After eight amazing years it is finally time to review everything that has been uploaded to our site and begin the process of selecting a winner. We started youtube in 2005 as a contest with the simple goal to find the best video in the world. We had no idea we'd get such a great response. You've uploaded over 70 hours of footage every minute and we've been blown away by the variety, imagination, and anything-goes spirit that's driven the competition.