Google announced this month a deal with MTV that will allow bloggers to post content from MTV Networks and earn some money from the ads. Shows like Nickelodeon's "SpongeBob SquarePants" and MTV's "Laguna Beach" will be rotated in a video channel.
"This gives us access to top video content, plus a new source of revenue for our content partners," said at that time David Eun, vice president of content partnerships for Google.
Search Engine RoundTable has information from one of the 150 publishers that were elected by Google for the beta test.
For the initial test, we will be using channels of video content provided by MTV Networks, such as from their Comedy Central, MTV, MTV2, The N, and Nickelodeon channels. The video content is mostly short-form clips of up to a few minutes in length."
The ads are provided by MTV, have around 30 seconds, are shown between segments of the video content and are CPM-based.
Here's one live example, that features an interview with Christina Aguilera.