Youtube needs to bring in more money says Google's CEO

Youtube is certainly Google's second biggest crowd puller after Google's own search engine technology but it has yet to bring in a significant amount of revenue.

So the priority of Google for 2008 according to Google's top brass Eric Schmidt, will be to make Youtube become a major revenue earner for the search company.

The news caused Google's share to surge to nearly $585, a five percent rise, which showed that shareholders and investors are keen to see Youtube become a money spinner.

In an interview to CNBC, Schmidt said that Google will release new products that haven't been announced.

The added that they are not just about adding adverts to existing solutions but go well beyond in that it will be valuable to the advertisers and the consumers as well.

Unlike television, every single Youtube user, every single video viewed costs money to Google and the more users Youtube gets, the more expensive the operation will become.

It will be interesting to see how Google plans to monetize all the eye balls that Youtube continues to attract (Ed : Perhaps, Youtube could start paying people for watching ads?)