Replacing YouTube, Vimeo, Vine Urls with embed code

In Facebook or other major social network sites, if you paste any video link from major streaming services like YouTube, Vimeo etc it would be automatically transformed to the video player. I was trying to achieve a similar behavior for one of my SharePoint page layouts, where I have link field which holds the video link. When user pastes the link, on the display view it automatically transformed to IFRAME in the background.

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