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I would say no. It's too big and obtrusive, and it looks like its all that's on the page. When I first visited the page I didn't know their was content underneath, I thought it was a splash. This might force other to leave rather than view your site.
I took a look at your site and the main problem I had is that the page was quite slow to load and the video took up most of my screen so I was not able to see the bottom portion of your website (the part I am there to see) until I either close the ad or scroll down. My suggestion would be that you try to make it smaller.