Google is looking to syndicate online video content from a number of major companies on various websites, according to press reports.

Under the move, the search engine giant is set to display video content within advertising boxes on websites relevant to search terms users are looking for, writes the New York Times.

The publication added that Google will share advertising revenue with the websites displaying the videos and the content provider.

Firms thought to be included in the scheme include Conde Nast, Dow Jones and Sony BMG.

The director of online sales and operations for Google AdSense, Kim Malone, said: "Once upon a time, if you had some video content that you wanted to distribute, you could do it on three television stations in the days of the networks, then 100 in the days of cable.

"Now, thanks to this programme, you can do it on literally millions of channels on the internet."

The New York Times added that although there is already an existing number of online video advertising networks, Google's model could be particularly significant due to the firm's "vast reach" via the internet.

However, a study by eMarketer reveals that despite its perceived popularity, internet video advertising accounts for about five per cent of the $20 billion (£10.2 billion) online marketing sector.