Don't worry as there is nothing to be afraid of really. Making a website like this is easy and can be quite useful to the creators themselves or the visitors. Advantages of having a website include making money if you manage to get visitors.
To have your own website you do need to create it and not borrowing
created designs from other websites such as Blogspot and Freewebs. First of all you need a domain name (website name) and a host (where your files are going to be stored and accessed from).
For domain name you either have a top level domain (TLD) or second level domain (SLD). Top level domain is basically with one dots when 'www' is not included, for example, uvervid.com or google.com. You usually purchase this domain or in some rare cases acquire one for free (rare) like from my host. You can purchase a TLD from Go daddy, Active-domain and other domain providers (just search and Google). Second level domain is usually seen as a lower level second class and mostly comes with two dots when www is not included, for example, video.uvervid.com. There are some second level domains that are considered top class due to the format i. e. bbc.co.uk. There are several sites that provide free SLD. Anyone who tells you to purchase a SLD must have a reason, otherwise, it is a scam. SLDs you have to purchase include .co.uk domain, .co.in, .co.nz, etc. Go daddy and Active-domain provide them as well. .Co.cc, .co.nr, etc. provide free SLD.
For hosting, you need a trustworthy site with very good reputation of not losing files and data for known or unknown reasons. If your plan is to have a site that allows video upload from users you need a host with ffmpeg (a software that converts raw video to flash). Most host charge you for both normal hosting and ffmpeg hosting, while others allow you to host without paying. For normal shared hosting you can get completely free hosting but there are often restrictions that prevent some functions. One of them being that they set file upload limit to a maximum of (2MB). There are hosts that give you free full wonderful features only if you post a number of posts on their website forum. These types of hosts also provide ffmpeg hosting for free the same way. It is called post to host (P2H). I currently use Ihubhost as my host and they're quite wonderful. They offer both paid and P2H hosting and they also provide ffmpeg hosting. Once you have done this you're almost there. Part 2 will be coming soon.