I run websites where I embed TV show episodes (NOT HOST THEM) and make sites based around that show for example 'family guy' or 'Simpsons' most that's happened to me is DMCA complaints to get removed off google and a DMCA complaint to my hosting that got my website suspended. I've done this for 3-4 years now and that's the pinnacle of that's happened to me. I went to see a lawyer a few months back and he told me that it was a grey area and there's nothing illegal about embedding.
Here's the premise of why I find it to be legal.
My website works as an index for already public material found on the web. I do not claim to own, or host these videos, I explain clearly in my legal disclaimer that we work as an index similar to how google does, just for smaller group of material.
The people who upload these videos on various websites like Dailymotion, YouTube, MP4Uplaod are claiming ownership and allowing it to be shared upon uploading (they can remove the embed privileges in settings).
Also, if you don't live in the USA I don't think DMCA even affects you as it's an American law.
The argument I can make to myself is people come to my website for many reasons, I've build community, chat, forums etc around the website, and some come just for the videos. If I only put ads on the website itself not the videos, there's no money being made directly from the video, rather pop-ups that display on the page which also includes blog pots, a chatroom, etc whose to say the video is the thing let alone the only thing generating income?
I also provide an e-mail for people to contact me if they're upset about a specific video and I will remove it.