Following a pilot program that began last May, Google has announced the beta launch of its Adsense for video offering. The company will use the same InVideo, overlay ads that it uses to run ads on YouTube. At types include video-based blocks sold on a CPM basis, and CPC text overlays. For now, the new offering will be available to video publishers that do a minimum of 1 million streams per month. The sites must be in English and based in the US. Going forward, the company plans to expand the program geographically and to publishers of different sizes. More details in the announcement.

NTV: “At launch, it has signed an impressive list of partners for its video ads, including UGC, professional, and enterprise portals and platforms, but most interestingly other video advertising companies such as YuMe and Tremor Media… Other named launch partners are how-to video sites BobVila.com, eHow, ExpertVillage, as well as My Damn Channel, PinkBike, TheNewsRoom, Revver, blip.tv, and GodTube, and Eyespot Network.” (Note: BrightCove is also among the named partners).

NYT: “While AdSense for Video is the latest in a string of new advertising initiatives that Google has started over the last two years, few, if any, of those initiatives have created substantial revenue for Google (NSDQ: GOOG). They include Google’s programs to place ads in newspapers, on radio and on TV stations and on a variety of new formats on the Web and on cellphones.”

• Google Begins Testing Video Ads
• YouTube Starts Overlaying Ads On Some Professional and User-Generated Video
• Google’s AdSense Starts New Video Experiment And Cracks Down On Content-Free Sites