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Update:
YouTube has begun blocking downloads. We are working hard to adapt our import method to bypass this aggressive infringement on your rights as a YouTube user, but we cannot promise there will be a solution.
In the meantime, we recommend using Vimeo or one of our supported file sources.
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TL;DR: Yes!
Yes! SmartVideo is compatible with YouTube.
SmartVideo downloads a copy of your YouTube video, encodes it, stores the copy on a global delivery network, then converts those YouTube embeds to our fast-loading player, automatically.
Once installed, SmartVideo automatically converts any YouTube videos found on your site. You can also use YouTube as a source for new videos you add to your site using our WordPress plugin or a SmartVideo tag.
Note: Due to YouTube restrictions, we cannot import any video greater than 2 hours in length from YouTube. This restriction does not apply to other sources.