http://wimtvpro.tv/index_en.html
http://www.wimlabs.com/en/index.html
It’s in Italian, so you may need to find the english language button to change.
The point is that one doesn’t “host” the video on one’s own website, but links to it somewhere else. Also of note, there’s a plugin for Drupal as well as WP. And at least some of it is free.