OK, so I guess Techcrunch (as usual) had the scoop on this one but it caught me by surprise. One huge reason for the move is to drive users to pay their $24.95 and go Pro (required to upload video. Flickr is a huge bandwidth drain and they have to start paying for it somehow.
Here is the FAQ.
and sample videos.
Oh and by the way 90 seconds and 150 Mb are the limits...for now.



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