The beta program is an extension of Googles In-Stream Video Ads, in operation since last May, but will center on the different ad formats now being made available. Graphical overlay ads, similar to what the company offers with certain YouTube videos, temporarily cover 20 percent of a video, and will be priced on a CPM basis. Text overlay ads, which appear as semi-transparent layers over the video or as a logo, will be cost-per-click, according to the company. The beta program will not place pre-roll, post-roll or interstitial video ads with video content.

Before dreams of making millions from your home movies starts running through your mind, you might not want to give up your day job. AdSense for Video isnt open to just anyone who got a pocket video camera for Christmas. With video meta data being notoriously inadequate, Google is having to take into account the surrounding text, in order to determine which ads are contextually relevant. Theyve obviously thought about the potential for spam, because theyre being very cautious about who theyll let into the beta.

To join the AdSense for Video youll need professional"or at least semi-professional"video production and at least one million streams per month. Want to know if youll likely get in? Well, take a look at the companies already signed-up and see if you think you can hang with them:

The program launches with approximately 20 partners, including direct video sites like BobVila.com, eHow, MyDamnChannel, ExpertVillage, PinkBike, TheNewsRoom, and social video aggregators Revver, blip.tv, and GodTube, according to the company.

Still, Im sure we can all look forward to some day seeing our YouTube videos scraped by some spammer with a Blogspot blog and an AdSense for Video account.

Google has money to make, you know.

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