Google has announced that Google Video will be transformed into a broader search index for all video online. Google Video search will include results from YouTube and users will be directed to YouTube for viewing. Google said in a company statement: "Google Video will become even more comprehensive as it evolves into a service where users can search for the world's online video content, irrespective of where it may be hosted." What this means for content already hosted on Google Video is current unclear.
Google also announced that YouTube will remain an independent subsidiary of Google and that Google would continue to provide search and monetization platforms. The company said that they "envision most user-generated and premium video content being hosted on YouTube." According to Ars Technica, the change only makes sense for a company that wants to sell video. Could Google Video become an alternative to the iTunes Store? Will Google really settle for just advertising as a source of income?
News source: Ars Technica