Best method for creating a video panel

Best method for creating a video panel

I'm working on a design where the page has a large video panel.  Below the video panel will be a selection of thumbnails of available videos to play.  The way it should work is the user clicks on a thumbnail and it will load the video in the panel without refreshing or going to a different page.

I had a look at partial page update techniques but wasn't able to find anything relating to loading embedded YouTube links - would a partial page update be an ideal way of accomplishing this task?