Google/YouTube aren’t quite there yet… :

NEW YORK (AdAge.com) — Google has struggled to find the best way to monetize YouTube. The latest idea: Let content creators sell ads.

Professional content producers — those who come equipped with their own ad-sales teams — are now able to sell advertising on their YouTube channels. That includes the click-to-expand overlays that run across the bottoms of YouTube videos and display units on the page that hosts the video player. The revenue is split between the content creator and YouTube, just as it would be if YouTube sold the ads.

In August last year YouTube announced they were offering ad only on Premium members channels – this was my response:

…Which is why it’s a bit of a surprise that there is no affiliate program for advertising in YouTube (Advertising). If YouTube wants to monetize viewed content, and they are embedding ads in premium videos, why not embed them in members videos that sign up and have an adsense account? It’s a genuine question. …

And for me, the consumer, if I know that good quality vidcasts and my clever videos might earn me a few dollars, wouldn’t I increase the ‘quality’ (or at least the appeal to my target audience)?

Tip: if you want to monetize user generated content, let the creator/member share the revenue, and they will find ways of selling their social media for you!

I think it’s still coming – My old post Monetizing Social Networks: sharing the revenue might be of interest to you.

I do like the last line:

“We’ll be trying new formats, new ways to engage users,” he said. (Shiva Rajaraman, product manager at YouTube.) “No one knows quite how to crack video advertising yet.”

There’s a few old traditional New Media types that think they know … *sighs* … y’know what I mean, an evening with the Usual Suspects, anyone? heh Betcha none of them mentions Citizen Advertiser and revenue clips for media distribution…