Is Video The Next Big Thing In Social Media?

I've had a quite a few conversations of late that lead to the question "are video sharing sites the next big thing in social media?"

Youtube, Viddler, Vimeo and all the others have really grown and become a force in the social media world. Youtube obviously gets the bulk of acclaim from the general public, but don't sell all the other tools short.

Discussion boards had their time in the sun, Blogs were the big thing for quite some time and social networks/microblogging are currently experiencing the fastest growth. Is the time coming where the written word, even if just 140 characters, will be lost to video sharing? Thoughts?