YouTube adds online shopping

Partnering up with and Apple’s iTunes Music Store, Google has announced their YouTube video sharing property will soon provide online shopping opportunities tied into the video content they display.  Located just below the video clips, the purchasing options will link to a variety of products related to the video displayed from movies and music to concert tickets or clothing and accessories.  Outside of adwords this will be one of Google’s first attempts to monetize the site they paid $1.65 billiion for in 2006, a site that boasts 330,000,000 monthly visitors and almost 13 hours of uploaded video every minute.

The move comes amidst calls from investors to begin raising revenues earned from the popular site after Piper Jaffrey Research predicted only $200 million of Google’s estimated $27 billion 2009 revenue would come from the site.  YouTube further indicated that more options were forthcoming.  “There’ll be lots of different solutions for lots of different problems,” Shishir Mehrotra, YouTube director of product management, said in an interview. “We’ve tested a lot of things already, and we’re going to be testing more in the future. Some will work, some won’t.  Some of the options mentioned in the Reuters article included ads along the bottom of the streaming videos, advertiser contests, sponsored homepage videos, and short ads before and/or after uploaded videos.