You can use an extended content type to create items for embedding, such as YouTube videos. The content type must be of the Web page base type; Images and Files cannot be embedded.
When should I use an extended type instead of another embedding option?
Using an extended "embedded item" type combines the flexibility and control of an extended type with the re-usability of an Include. It also greatly reduces the risk of "breaking" the HTML of the embedded item by manually editing code. In particular, this option offers unique administrative control over the following:
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Attributes (fields) - By customizing the fields of the Authoring Wizard Properties step, a Website Administrator enables authors to associate meta-data with each item such as content category, rating, or source. The meta-data can be displayed with the item itself, as in a list. It can also be used to filter items, create dynamic lists, and search for items. For instance, if your site has a News Item content type of the base type Web page, you can display a Related Videos sidebar on each News Item page.
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Presentation (display templates) - Because the extended type has its own display templates, it offers the most control over presentation.
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Creation and Publication - The publication approval process for items of the extended "embedded" type is separate from any Web pages where the items are embedded. A "junior" video specialist tasked with creating and managing videos and other items does not edit Web pages directly or need any HTML or WYSIWYG skills.