YouTube may dominate online video as we know it, but Yahoo! isn't giving up. The company says it plans to focus on media deals with content partners as it revamps its video site.

Mike Folgner, Yahoo's general manager for video, told Bloomberg the plan is to make the portal a video-heavy destination.

"One of our strategies is to put video everywhere you are on the internet," Folgner said. "We're going to build a much better destination for you to access all this different content."

As part of the strategy, Yahoo plans to incorporate more music videos, TV shows and spots highlights.

According to a recent comScore report, more than 130 million Americans are viewing online video.

Lat last month, Sony also announced a new strategy to challenge the YouTube juggernaut when it rebranded Grouper as Crackle. That experiment will favor high-quality video with a more ad-friendly bent.