YouTube is making a big announcement Wednesday morning, according to a report on TechCrunch. If correct, then tomorrow will likely be a huge day once again for the online video industry. This is great timing in that we know Hulu.com will be launching live to the public as well on Wednesday. Is YouTube rolling out high definition video, live streaming video, DRM, white-labeled solution, or what? We think that it is higher quality video, and perhaps HD video. We know that Youtube stated they had plans for HD video and we have seen them testing various higher-quality video formats in the past few weeks. Stay Tuned!