The Google-owned video- sharing site currently carries videos only up to 10 minutes long for user-generated content in the UK. It launched long-form video content on YouTube in the US in October 2008 with content partners including CBS and Sony Pictures.
Google chief executive Eric Schmidt said it was a priority to earn more revenue from YouTube, which Google bought for £1.6bn in 2006.
YouTube's expansion into the video-on-demand market comes as competition in the UK VoD market hots up with the upcoming launch of Microsoft's online video player and US-based Hulu's expected launch in the UK, as well as Arqiva's deployment of Project Kangaroo technology to launch a VoD service.
ITV said: "There is no content agreement with Coronation Street at this time."
YouTube said: "We have thousands of content partners who use the platform to reach new audiences and generate new revenues. We are unable to comment on speculation about future partnerships."