Is it fine to use an iframe for video content? Will it still be indexed on your URL?
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If we host a video on a third party site and use an iframe to display it on our site, when the video is indexed in SERPs will it show on our site or on the third party site?
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The video will be indexed as coming from the 3rd party site. Google reads iframes like a separate html page, and your iframe code is indexed as being from wherever the iframe code lives.
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It probably would show under the 3rd Party Website.
Unless you have specific reasons for not displaying it then I would embed it actually on the page as Google will reward engagement objects.
I would surround the video with some good text content related to that Video.