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In an effort to have a viable business model, YouTube recently announced a new brand channel, with the first channel being develoted to Paris Hilton and the release of her debut album. Their press release also mentions the introduction of Participatory Video Ads (PVA):

The new Participatory Video Ad is a user-initiated video advertisement with all of the YouTube community features enabled. Consumers can rate, share,comment, embed, and favorite advertising content that they find interesting, informative and entertaining. Rather than interrupt a consumer’s experience, we have created a model which encourages engagement and participation.

Initial PVA participants include a promo for the Weinstein Company’s upcoming release of PULSE, and Fox Broadcasting for the promotion of Fall season launch of Prison Break. Will this approach work for bringing dollars into YouTube? For the short-term, it is very likely, as advertisers are swarming around YouTube currently. But in other news, the blog Will Video for Food has started a betting pool to determine when YouTube will fall from glory…