Photographers are beginning to place portfolios on YouTube. I'm not sure that placing a video on YouTube will lead to an avalanche of bookings or assignments, but the ability to embed the video that you uploaded to YouTube on your home page or the porfolio page of your web site or your blog, does have real value. For one thing you're not paying for the bandwidth required for a large number of people to view your video and for another it's easy to rotate with other videos you've uploaded to YouTube and last but not least, potential customers can then search YouTube for additional videos that promote you or your work. Not bad for a free service.
Here's Rodolfo's video, BTW, I'm not suggesting that you use his as a template. If I had edited his work this video would look much different. There is some nudity in the video so if you find nudity offensive don't click the play button.