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For $1.65 billion USD, Google has bought the second most prolific video sharing site, next  to MySpace. I was watching CNN this morning and analysts have been criticizing Google's blog monetization to be very text-centric, which is of course true. Contextual advertising via AdSense empowered bloggers to blog and make money out of it, somehow. Of course, the big question now is how do you monetize videos? It's not like you can have keywords that describe video content - although this is possible, but highly amateurish.

For sure, Google plans to monetize video. How? Well, only time will tell. But this will inspire the "grassroots" community filmmakers to churn out even more content. Good business, eh?