Online video and video ads are all the rage right now. Video ads are predicted to be the fastest growing online ad segment so I’ve been paying close attention to this space. Several exciting sites have launched that merge online video, TV and user-generated Web 2.0 elements. Current TV is one of them. You can add your own videos, vote for videos and even get paid to create user-generated TV commercials.

VIDEOPHILES Can earn from $1,000 – $50,000 by creating user-generated video ads. They call ‘em V-CAMs. See a fun user-generated video ad below:

There are a ton of other VERY funny user generated TV commercials on the site. Go check them out or log-in to vote for your fav! Oh and here’s some info about how to make money by creating video ads at Current TV.

One of the TV programs at Current that webmasters should find interesting is Google Current which airs every half hour and provides a look at what the world is searching for on Google. From hybrid cars to human-animal hybrids, from Paris riots to Paris Hilton photos, your searches guide the TV stories. Google TV Shows on Current TV are pretty cool!