Some people know when to quit. Not every YouTube channel can keep more than a million subscribers satisfied and returning for more. Channels like Fred and Val's Art Diary keep viewers continuously entertained. Most of us simply don't have the time or eye to create quality video content over and over again. Great video producers, including ReadWriteWeb's own Jolie O'Dell, are a rare breed. But every now and then, even mediocre videographers harness an unexpected streak of brilliance.

YouTube wants to monetize those moments. According to the announcement, YouTube will determine video eligibility after looking at factors like traffic, virality and compliance with the community's Terms of Service. If your clip is determined to be the next big meme, Google will contact you to enable revenue sharing and offer you AdSense options on your video page. If you plan on following up your hit video with a meme-worthy sequel, the company encourages you to sign up for the YouTube Partners Program and take advantage of enhanced channel features.

Before you run off to make your video, remember a few rules of thumb:
1. Own the Rights: Make sure you are well within your rights to use the music, media, etc. that you plan to incorporate in your video. YouTube won't offer you revenue share if you appear to be walking a legal gray line.
2. Keep it Clean: Avoid using offensive or obscene language and images. Few advertisers want their messaging coupled with something they see as inappropriate or likely to alienate their customers.
3. Entertain and Elevate: The YouTube community may not be the most high-brow bunch, but it certainly knows the hottest memes. Research your subject matter before putting yourself out there. What may be funny or interesting to you could be last month's news to the community (and in Web years, last month actually equals 5 years ago).