Yes it is, Propaganda

This video is propaganda because it plays on emotion to convince voters to support Obama.

The video showcases several celebrities who can use their star-power to influence voters. For example, one might think because Nick Cannon supports Obama, they should too. This use of celebrities is also a reason why this video went viral, because it had so many working together.

This video also, as Nancy Snow puts it, "reinforce[s] exisiting opinions". This solidifies Obama supporters' thoughts that Obama provides hope and change if elected.

It also has repetition of a phrase, "yes we can". This easily repeatable phrase sticks with the viewer after watching and might even have subliminal effects.

A few last reasons why this went viral include having "Obama" in the title, and the fact that this was widely shared among social networking sites (a key that Dan Greenberg talks about).