YouTube, the popular video-sharing site that was recently bought by Google Inc. for $1.6 billion, announced it hopes to launch a service for mobile devices within a year.

"Within the next year we hope to have something on a mobile device; it's going to be a huge market, especially for the video mind-set we're dealing with, it's a natural transition," says Chad Hurley, YouTube chief executive and co-founder.

Yesterday, Viacom, the parent of Comedy Central, said it will allow some of its clips on YouTube after it had previously requested YouTube to remove copyrighted materials from the site.

In September, YouTube announced a content partnership with Warner Music Group.

In June YouTube and NBC Universal signed a deal to promote clips of NBC network's upcoming fall season after it had asked YouTube to remove some of the network's clips.

It is unknown what the business model for the mobile content on YouTube will be based on, although according to an AdAge.com article YouTube may experiment with user-generated ads.