This was sourced from google for my personal reference but feel free to share it.
Last week, we announced that the video units feature will soon be retired. Our announcement has created some confusion, so we thought it would be helpful to outline how Google will still continue to support revenue opportunities for video content owners.
The video units feature allowed publishers to create video unit players, with YouTube partner content and accompanying ads, within their AdSense accounts. They could then embed this special player into their web pages, and revenue generated from the ads would be split between the YouTube partner, the AdSense publisher, and Google. Although we’re retiring the video units feature, we’ll continue to offer the following monetization solutions to video content creators:
AdSense for video
AdSense for video gives video owners the ability to earn money from videos they create or own. They can run placement targeted instream video ads (pre, mid, post rolls) and graphical overlays or contextually targeted text ads in Flash players, and the ad revenue will be split between the video owner and Google.
Current AdSense for video publishers include Encyclopedia Britannica, Demand Media, and College Humor. If you’d like more information about the program or how to apply, visit our microsite.
YouTube Partner Program
Similarly, the YouTube Partner Program enables popular content creators to share in advertising revenue from their own videos hosted on YouTube. Participants can choose the videos on which they’d like to show overlay ads or accompanying banner ads. These videos earn them money whether they’re viewed on YouTube or embedded onto web pages elsewhere online, and the revenue generated from these ads will be split between the YouTube partner and Google.