In a very short time, watching videos online has become a common pastime, and the imagination of artists and other content owners continues to fuel this trend. Meanwhile, across the industry, advertisers and video publishers continue to look for the best solution that balances the needs of video fans with the need for video sites to generate the revenue that enables them to continue to be creative as they grow.

Enter, stage left: the AdSense for video beta. This approach takes the same non-intrusive InVideo ad format used on YouTube and extends it across video partner sites on the Google Content Network. This enables advertisers to run a single campaign across the largest network of online video content.

Unique to AdSense for video are text overlay ads contextually targeted to a combination of signals in your videos and on your site. With these overlay ads, the user’s experience is not interrupted; users determine how much they want to interact with the ad.

We have two major goals: to make it easier for publishers to monetize video online, and for advertisers to learn how to reach the video community. Towards these ends, today we’re also launching a single destination with an overview of various options to expand online video opportunities called Google Video Advertising Solutions. We hope this will be your starting point to understand how to leverage the Google Content Network and YouTube to make the most out of the online video experience. You can also see our overview videos for advertisers and publishers — because isn’t video the best way to experience video?

We’ve been working with a number of video partners (e.g. popular destinations like BobVila.com, eHow, MyDamnChannel, ExpertVillage, PinkBike, TheNewsRoom, and social video aggregators like Revver, blip.tv, and GodTube). And we’re also working with several key video platform solution solutions like Brightcove, Yume, Tremor Media, and Eyespot Network, who have plugged our ads into their platforms.

 From the Official Google Blog

YouTube co-founder Steve Chen, speaking at the NewTeeVee Live conference today, confirmed that high-quality YouTube video streams are coming soon. Although YouTube’s goal, he said, is to make the site’s vast library of content available to everyone, and that requires a fairly low-bitrate stream, the service is testing a player that detects the speed of the viewer’s Net connection and serves up higher-quality video if viewers want it.

Why wouldn’t they? Because the need to buffer the video before it starts playing will change the experience. Hence the experiment, rather than just a rapid rollout of this technology. On stage, he said the current resolution of YouTube videos has been “good enough” for the site untill now.

Chen told me he expects that high-quality YouTube videos will be available to everyone within three months.

Chen also confirmed that in YouTube’s internal archive, all video is stored at the native resolution in which it was sent. However, he said, a large portion of YouTube videos are pretty poor quality to begin with–320×240. Streaming them in high-quality mode isn’t going to help much.