Based on what we have gathered from Mioboo.com the video is actually a test video for a real movie which is being proposed to Warner Bros. Kevin Tancharoen, the director behind the remake of Fame is the same director behind this YouTube video of Mortal Kombat Rebirth.
The makers of the new Mortal Kombat film promises to make it a real MK experience by putting the real blood and gore of the video game. Mortal Kombat had been popular for its, "Finish Him" phrase in the game and if the player knows the sequence, they will be presented with a brutal finishing finale against the opponent.
Another website, Latino Review reveals that characters that would be appearing in the new Mortal Kombat Film, Mortal Kombat rebirth includes Jacks played by Michael Jai White, Sonya Blade is played by Jeri Ryan, Baraka will be played by Lateef Crowder, Scorpion is played by Ian Anthony Dale, Johnny Cage is played by Matt Mullins, and Sub-Zero will also be making an appearance in the movie.
So watch out everyone for Mortal Kombat Rebirth!