Remote upload feature is available with vshare 2.7.

Using this, you can upload videos from youtube.

Remote upload will show the Embed videos from youtube (NO space, bandwidth needed)

Also you need to edit the templates/upload.tpl and remove the text 'Upload From Your PC' for disable the normal upload



Or you can use youtube niche script.

The script fetches and shows video from youtube for keywords you specified. Videos and images are served from Youtube, so the script is very light weight, won't use up too much web space or bandwidth like youtube clone script.

Read more details at

Youtube Niche Video Script