Here is a free FFMPEG Hosting provider. Most of the free hosts don't allow it. Using this facility you can host a Youtube like site with streaming video.

Only thing is it is a post to host free host.

P2H_TH_SMALL
Features:
512 MB Space
5000 MB Bandwidth
Posts to start plan: 5
Posts per Month: 5
Addon Domains Allowed: 1
Subdomains: 5
Parked Domains Allowed: 1
FTP Accounts: 5
POP3 Accounts: 5
MySQL Databases: 5

For other plans and details, visit tubehosting site here.