Recent years have witnessed a new video delivery paradigm: smartrouter-based peer video content delivery network, which is enabled by smartrouters deployed at users' homes. ChinaCache (one of the largest CDN providers in China) and Youku (a video provider using smartrouters to assist video delivery) announced their cooperation in 2015, to create a new paradigm of content delivery based on householders' network resources [2]. This new paradigm is different from the conventional peer-to-peer (P2P) approach, because millions of dedicated smartrouters are operated by the centralized video service providers in a coordinative manner. Thus it is intriguing to study the content placement strategies used in a smartrouterbased content delivery system, as well as its potential impact on the content delivery ecosystem. In this paper, we carry out measurement studies of Youku's peer video CDN, who has deployed over 300K smartrouter devices for its video delivery. In our measurement studies, 104K videos were investigated and 4TB traffic has been analyzed, over controlled smartrouter nodes and players. Our measurement insights are as follows. First, a global content replication strategy is essential for the peer CDN systems. Second, such peer CDN deployment itself can form an effective sub-system for end-to-end QoS monitoring, which can be used for fine-grained request redirection (e.g., userlevel) and content replication. We also show our analysis on the performance limitations and propose potential improvements to the peer CDN systems.