I think we'll see a lot more announcements like this in the next 2 weeks - other Studios and TV Broadcasters putting long form content on YouTube, laden with advertising to generate revenue. The adverts will be pre-roll, mid-roll and possibly post-roll as well.
I also prophesise that YouTube/Google will not understand broadcast timecodes and will require everything in simple seconds, to two decimal places. Why do they need timecodes? To know where to insert the advertising of course. Will users be able to skip the advertising mid-roll? Not a chance. And what problems will timecodes in seconds, with two decimal places, create? I believe we'll see adverts inserted at the incorrect places as different frame rates between PAL, NTSC and film content are not taken into account, or ad breaks that are placed in content at obvious points like fades/transitions/mixes (whatever you'd like to call them) will be a few frames incorrect, so the transition will happen slightly before or after the ad break.
I also predict that YouTube won't really understand about TV resolution and will request everything at 640x480 frame size, rather than say 720x576 for PAL. I predict they may also have problems dealing with Full Height Anamorphic content, but of course that's just a hunch.
Don't ask me how I know, just looking into my crystal ball you understand.......
