Let's add a new custom taxonomy to Post type:

// Add custom taxonomy
add_action( 'init', 'video_create_taxonomies', 0 );

function video_create_taxonomies() 
{
	// Meal type
	register_taxonomy('video-type',array('post'),array(
		'hierarchical' => true,
		'label' => 'Video category',
		'singular_name' => 'Video category',
		'show_ui' => true,
		'query_var' => true,
		'rewrite' => array('slug' => 'video-type' )
	));
}