Google people are on a continuous search for the perfect advertising approach for the hugely popular YouTube. Up to now, the company’s CEO, Eric Schmidt, has brought up this subject several times; however, despite the ongoing efforts, the best solution has yet to be found.

According to Eric Schmidt, new monetization forms are on their way. This is what the company is looking for, its "holy grail." Once it is found, rather heavy results are expected, given YouTube’s scope and scale.

The company has had several attempts to implement different types of ads: pre-roll and post-roll ads (showed before and after the clips), and "in-the-chrome ads" (showed in the frame surrounding the frame).

According to the CEO, the company is most pleased with in-video ads, which appear in the lower part of the video screen itself. A fair amount of success was also recorded with gadget video, the main reason for this probably consisting in the fact that it enables story telling. The Google team is currently working on new ways to deliver ads to their ever expanding audience.

As Google is putting together a plan to bring money in, its situation, on an entirely different level, may lead to significant losses. Obviously enough, I am referring to the ongoing Viacom case.

The suit was started about one year ago when Viacom accused the popular website of having infringed upon numerous of its rightful copyrights. According to Viacom, Google does very "little or nothing" for stopping the continuous upload of illegal videos on YouTube.

Whatever happens with this one billion dollar case, as well as with the upcoming innovative ad campaign, should be very interesting to follow.