Google’s YouTube keeps making efforts to find the best way of cashing in on its huge worldwide success. The pressure is extremely high, as the share holders are beginning to lose their patience and demand some fast results or at least some news about the development of a new strategy. The company keeps experimenting with different advertising formats, looking to find the one with the biggest potential to make a difference when it comes to its revenue flow.

Ever since the acquisition of the popular video sharing Web site, which happened two years ago and cost Google $1.7 billion, the company has been looking for a way of turning this popularity into profit, in order to back up the immense investment.

YouTube’s latest effort was officially presented yesterday, as the company introduced an auction-based advertising system, which borrows many of the features found in Google’s innovative release, promoting sponsored videos alongside regular search-engine results on the Web site. YouTube managed to recently pass Yahoo and became the world’s second Web search provider, while the first place is occupied by its corporate leader, Google.

"What we're trying to do is bring the best parts of Google and the best parts of YouTube together," said Matthew Liu, product manager for the new service, entitled YouTube Sponsored Videos.

For now, the new approach will only be available in the United States and will allow advertisers to create ads and place bids for placement alongside certain keywords. The company explained that the new program will help the industry by leveling the playing field and making the ads available for all interested parties, whether its individuals, small businesses or major labels.

"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," explained Matthew Liu in a blog post, adding that "Anyone can use Sponsored Videos to make sure their videos find a larger audience, whether you're a startup 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."

The promoted videos appear on the right side of each YouTube search-results page in a special section, presenting an image and some text, just as any other video featured on the Web site. Advertisers are charged each time a viewer clicks on an ad and they can set the price they want to pay for this access. The price bid by the advertisers will determine which ads will be featured.

YouTube co-founder Chad Hurley talked about the company’s new direction through a video message, and said that this represents a powerful way for both users and advertisers to get discovered and also that the system will ensure a relevant and democratic way for all to promote and sponsor their videos.