The No. 1 priority at YouTube is finding a monetization model, and the latest initiative is to put ad sales in the hands of content creators.

Professional video makers who feature their content on YouTube will now be able to sell the ads that surround the content on their channel pages, including the video overlays and display ads. Revenue will be split between YouTube and the content creators, the same as it would be if YouTube sold the ad.

Controlling the advertising that surrounds the content is important for many creators, and the new strategy could help YouTube in the long run. Giving high-end video-makers the incentive of controlling the ads that surround their content could lead more creators to host their content on YouTube.

"[Content creators are] really interested in packaging together all their distribution potential, including YouTube, and using that to surround their anchor and tell a story just like our sales force would sell on our platform," said Shiva Rajaraman, product manager at YouTube.

Ad Age reported that Revision3, the production company behind "Diggnation," has already signed on to sell advertising on YouTube.

YouTube currently sells its advertising by vertical or channel, and not based on the individual video. More than 4 billion videos were viewed on YouTube in March, according to comScore.

YouTube hit a speed bump last week when its head of monetization, Shashi Seth, left for a job at a startup. Bumps aside, YouTube has still been able to assert itself as an advertising hot spot on the web, thanks to edgy campaigns from advertisers.