Do I need to buy a dedicated server? Or a virtual server? I want to upload around 500mb of video per month. What is the best way to go about this? Is a dedicated server the solution? Many thanks!
500mb per month isn't to much. How many visitors are you expecting? You might be OK starting out with a shared server.
He may be ok with shared hosting, but it depends on how resource intensive his site will be. And since space is not a clear indicator of resource usage. It will definitely depend on the script as well as amount of visitors.
I think you want a site for personal video only. If you need 500 Mb each month, than I think you should start with stared hosting, and if your need increses more, than shift to dedicated server.