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Attn., Spielberg: Desperately Seeking Web Video?

Greg Levine
WATCH LIVE

Why pay to see Web video when you can get paid to submit it?

That’s the sales pitch from Break.com, which is battling better-known rival YouTube for dominance of the user-generated vid arena.

A report in the "New York Post" says Break.com will announce today that it is upping payments – by as much as 100%, or fees of $400 to $2,000 -- to certain video uploaders.

What does this bode for the sector? Sheryl Draizen, senior vice president & general manager of the Interactive Advertising Bureau, offered Squawk Box some insights – and attempted a few predictions.

Draizen sees an ever-more intertwined relationship between content consumers and purveyors – and more and more, the two sides will be the same population. 

She augurs that “online video could be as big as search,” a thought that no doubt delights management at Yahoo! and Microsoft’s MSN – and especially cheering to Eric Schmidt, chief executive at search-engine extraordinaire Google. The proud new proprietor of YouTube, Google just completed its $1.65 billion of the viral-video site. 

Draizen points out that online ad revenues are expected to top $16 billion to $17 billion this year, but “at the end of the day,” it’ll be up to advertisers to make the call: to align or not to align themselves with the wilder new breed of content generation, or stick with the “professional” Internet producers such as CNBC, Forbes or The New York Times.