The New York Times reported on Tuesday that Google will soon be offering contextually relevant video ad placement on its Adsense network presenting a new opportunity for advertisers and complementing the text-only Adwords service on which the company was built.

Offering greater flexibility with it’s well known auction-based pricing and introducing TV advertisers to the web’s unprecedented level of targeting, the new service certainly shows strong potential.

In other news - it seems Google’s Video Search has fallen to fifth (read: last) place behind YouTube, MySpace, Yahoo, and MSN.

Hmmm… there’s something else… it’s… thinly veiled…

…Wait! - I see it now:

What if there was a way to blanket the web with links to Google Video search - maybe cool “Powered by Google Video” links - using some kind of massive advertising network?

Wow - that would really pump some life into GV - what could be better than that???

Getting other people to pay you for doing it.

Ah, Google…

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