In order for you or your users to start uploading video using Video Module, you must add a Video as a content type on your site.
Go to Administer->Content management->ContentTypes.
Click on "Add content type" at the top.

Then click "Save content type"
Next, click on "Manage Fields"

Next,Click "Save"

We did a small change in selecting thumbnail and video sizes in the latest version as below.

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Click "Save field settings"
Next, go to "Display fields"

Click "Save"
Now you have successfully created Video node type, go to Node->Add and Create video nodes

Click "Upload"
Then you can see Video Node

Add title and click "Save"