YouTube yesterday unveiled its latest plan for making money: an auction-based ad system that puts sponsored video clips alongside search results. The video-sharing site's system mimics that of its parent company, Google, reports the San Francisco Chronicle. The company—which ranks second only to Google in searches—is hoping it can finally monetize its enormous popularity.
The system will place sponsored videos next to related search results, said YouTube. As with Google’s ads, advertisers pay only when users click on their videos. "We are trying to blend the best of Google with the best of YouTube," said a YouTube product manager. Users view more than 5 billion YouTube videos a month, a 44% market share.