Twitpic announced that in addition to being the default picture service for Twitter, they're also going to start a video service. While the other Twitter picture options, Plixi and Flickr don't upload video to Twitter yet, Twitvid's been doing the job (see test here). However, since Twitvid's been the default option, it's always good to rustle some feathers and get competition in the game.
This is an important move for Twitpic especially when it comes to news gathering. Having a cell phone with a video camera is a pretty powerful tool today and having access to social network sites is something that could help journalists everywhere. At a lot of important events like the earthquake in Haiti and the protests in Egypt, regular pictures taken from cell phones and uploaded to Twitter have served importantly for news presentation.