I found this one helpful in a site I help develop. Thanks and credit go to ridgerunner.
// Linkify youtube URLs which are not already links.
function linkifyYouTubeURLs($text) {
    $text = preg_replace('~
        # Match non-linked youtube URL in the wild. (Rev:20111012)
        https?://         # Required scheme. Either http or https.
        (?:[0-9A-Z-]+\.)? # Optional subdomain.
        (?:               # Group host alternatives.
          youtu\.be/      # Either youtu.be,
        | youtube\.com    # or youtube.com followed by
          \S*             # Allow anything up to VIDEO_ID,
          [^\w\-\s]       # but char before ID is non-ID char.
        )                 # End host alternatives.
        ([\w\-]{11})      # $1: VIDEO_ID is exactly 11 chars.
        (?=[^\w\-]|$)     # Assert next char is non-ID or EOS.
        (?!               # Assert URL is not pre-linked.
          [?=&+%\w]*      # Allow URL (query) remainder.
          (?:             # Group pre-linked alternatives.
            [\'"][^<>]*>  # Either inside a start tag,
          | </a>          # or inside <a> element text contents.
          )               # End recognized pre-linked alts.
        )                 # End negative lookahead assertion.
        [?=&+%\w-]*        # Consume any URL (query) remainder.
        ~ix', 
        '<a href="http://www.youtube.com/watch?v=$1">YouTube link: $1</a>',
        $text);
    return $text;
}
You should be able to strip what you need out of there, and it handles all styles of YouTube links. Vimeo shouldn't be too hard from there.