CNET News is reporting that Google is getting into the game of sharing ad revenues with video producers.  This report by CNET focuses on the now famous Mentos/Diet Coke video.

Google has begun sharing advertising revenue with the makers of a popular video clip in a groundbreaking deal that could drive up the costs of competing in the fledgling video-sharing sector.

The search company has agreed to turn over most advertising revenue generated by the latest video from Fritz Grobe and Stephen Voltz, creators of “The Diet Coke & Mentos Experiment,” according to Peter Chane, a senior product manager for Google Video.

In exchange, Grobe and Voltz, who saw their original offering–which shows a version of Vegas’ Bellagio Fountains made of 101 2-liter bottles of Diet Coke and 523 Mentos–catch fire with video-sharing fans last summer, have agreed to let Google host their latest video, “The Diet Coke & Mentos Experiment II.”

Source: Cnet News