We’ve noticed a trend in video conferencing technology. Web conferencing platforms are now being integrated into social media networks like Twitter and Facebook. With all these collaborations and integrations diminishing the need for individual communications software applications, what’s a company to do? Upgrade!

In the wake of the Twitter and Tinychat collaboration, Skype has updated their software with group video conferencing options. The communications software company is known for their instant messaging and internet voice call services.

The new beta Skype 5.0 launched this week for windows and is available as a free download. The web conferencing service enables group video for 5 video participants. The company is rolling out a few premium features in 2010, but hasn’t set a price tag on the features yet. The company is committed to maintaining free voice and two-way video calling services.

Skype users have been asking for hosted video chats for a while, so the update is exciting news for skype-lovers. Unfortunately, users will need a web cam and a windows PC for the video conferencing to work. The company also plans to launch a Mac version of the software. We’ll keep you posted.