Remember when Facebook launched their advertising platform? And then MySpace followed? Well get ready because another powerhouse – YouTube – is on the brink of unrolling an ad platform that will provide web marketers another opportunity to cash in. And, just like Facebook Ads, these platforms launch with minimal competition so the time to cash in is early on.

The Google Blog published this awesome development earlier today:

Today, we are excited to announce a way to do just that. YouTube Sponsored Videos is our new advertising program that enables all video creators — from the everyday user to a Fortune 500 advertiser — to reach people who are interested in their content, products, or services, with relevant videos. Anyone can use Sponsored Videos to make sure their videos find a larger audience, whether you’re a start-up band trying to break out with a new single, a film studio seeking to promote an exciting movie trailer, or even a first-time uploader trying to quickly build a following on the site.

You can sign up now at: https://ads.youtube.com/

YouTube has had a well publicized difficulty in turning a profit and the website, despite easily being the #1 destination on the web for videos, is still in the red. Actually, its one of the top destinations for any type of content. I have a feeling that this development will change that, especially if they’re able to take the ease and effectiveness of targeted contextual advertising to the video stage.

The question is, will the site become overrun with unrelated videos for various search terms from marketers who publish them solely for the purpose of generating traffic and revenue? Lets hope not. While your little brain is probably ticking with the question, “How Can I Profit From This,” remember that if YouTube ceases to be an effective medium for finding what you want, people will stop using it.

I don’t think that will happen but I know Internet Marketers worldwide will probably soon flock to YouTube wondering how they can turn a quick buck. Or quick thousand bucks or hundred thousand bucks. Its possible… just ask anyone who got in on the Facebook Ad launch.

I’m eager to see how this development plays into the advertising and marketing campaigns of myself and other fellow marketers and I hope it does big things for YouTube and Google as well. This is an exciting development.

[Via Google Blog]