Blinkx, the London/San Francisco-based video search company has announced a new plan for content creators to monetize content as their clips are discovered through search.

Here are basics: content providers send a feed to Blinkx, which indexes content.  If someone searches and finds the video, a text ad will be placed in lower portion of the video player.  Revenue generated on a cost-per-click basis will be shared on a 50/50 basis. 

Doesn’t sound like much dough.  In fact, Blinkx founder and CEO Suranga Chandratillake told The New York Time’s Victoria Shannon that payment to independent content creators, “Maybe enough to pay your Internet bill at best.”

Hard to say how this will play out.  It depends on how broadly the Blinkx search technology used on Web sites, but it’s an important trend to watch. 

Suranga visited the Beet.TV studios last year and I’ve reposted our interview.  He talks about the opportunities to monetize video search with contextual advertising.  Check it out.

— Andy Plesser