Penn Media has launched Vidsense, a contextual advertising program that delivers video from Penn Media’s EVTV1 video portal to blogs based on content.

Details were not availabe as to the criteria for sites applying, but their website does indicate that applications may be restricted based on content and traffic.

The videos offered are preceded with 15 to 30 second commercials, with Penn Media sharing ad revenue with bloggers.

(via adrants)