My friend Allen Stern who runs CenterNetworks.com, launched a new video ad service called Revlayer.

The beauty of the service is its simplicity. After sign-up, site owners (or bloggers), get a piece of code that is added to the header. The result is an ad that covers the space occupied by the video player.

The business model is ad-revenue based, where Revlayer keeps 25% of the revenue.

You can check-out a demo, here.

Also, go and read Mike Arrington’s review of Revlayer, here.