Google shuts down paid video clips

Google announced that they will end their experiment with paid programming on their video search engine come August 15th. Google will instead concentrate their video monetization efforts on developing ad supported models more suited to online video, perhaps deviating from the standard static, text-based messages.

As the AP reports, "to compensate customers who will no longer be able to see the videos that they purchased, Google is providing refunds in the form of credits that can be used on its online payment service, Checkout."

Update: It appears that Google may have acted in advance of their originally announced August 15 date and already phased out its paid program. No instances of paid video clips options appear when doing a check in Google Video's Advanced Video Search feature and selecting and narrowing the selection to "Price > For Sale."