Video hosting giant Youtube has revealed a new design called Cosmic Panda.

The new design, here shown with the viral Nyan Cat video, is more polished than the previous Youtube design. Video player control buttons have been repositioned and are now more prevalent, while being integrated in a nicer way. Ads still continue to disturb the experience.

Significant changes have also been made to how playlists are integrated within Youtube, sometimes moving them from a sidebar to a horizontal scroll.
Channel pages also have received a complete make over and look much cleaner and more streamlined.

Surprisingly the new design does not integrate with the new header navigation design which came with the limited Google+ roll out.
Read the Youtube announcement here. You can activate the new Cosmic Panda design at the Cosmic Panda page.