If you’re hosting your company’s videos on YouTube and then embedding them on your site, a new service will let you add DVR functionality to your clips. It works in minutes and it won’t cost you a thing.

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It’s called EmbedPlus and it adds Slow, Replay, Previous, Next, Zoom, and more to any YouTube video. Slo-mo is great for sports and other action videos, while the Previous and Next buttons let viewers skip forward and back within scenes that you’ve marked. The zoom gives viewers a closer look at wherever they move their cursor.

Since social networking is crucial to creating buzz, a button called Real-time Reactions lets viewers see what other people are saying about that video on Twitter or in YouTube comments.

To use EmbedPlus, you only need to hit the Get Started link on the site and paste in the URL of the video you want modified. The site’s wizard walks you through the rest.

The service launched last week, and co-creator Shola “Tay” Omojokun says reactions have been positive. The tool was built largely using YouTube’s API, but with Topsy and Bit.ly’s APIs, as well. While EmbedPlus currently only works with YouTube-hosted videos, Omojokun says that Vimeo support is coming soon.

The service is currently free to use, and Omojokun says that he and the other co-creators are looking at revenue strategies that will keep it that way.

It’s an innovative tool that lets viewers have more control over the clips they’re watching. Give it a try on your site or company blog and see if your viewers enjoy the DVR abilities.