Alright with the rise of the iPhone, many people will be using video on the go.
Bu there's the no no, you still have to convert you videos first.
Imagine a website dedicated to video on the iPhone only. Someone with free time and little money can make a popular website out of this idea. You have it all there, all you have to do is select the content. Convert it. And upload the torrents. With one or two banners and all the traffic you'll be generating, I am sure you can cover hosting costs and even earn more.
www.mp4torrent.com is still available at time of writing, I won't tell other available domain names, but at the end of the day, it's the service you'll be proposing that will matter most. If your service is good, even is your domain name is hjkdsahjkuiro.com people will still come to you.
Later this website can host any content for the iPhone. So be wise and choose well the message you want to convey.
PS1: Please share in this thread, if you take the challenge.
PS2: You heard it first here.