Wizzard Media announced today that video embedded on internet websites using the Wizzard Player can now be viewed on the iPhone and iPod Touch.

In the past, Apple devices, due to their lack of Flash support, have not been able to access most embedded Web video. When visiting a video website using the iPhone, the screen appears blank where the video would normally be.

The update is part of Wizzard Media’s plan to extend its podcast advertising platform to the iPhone in January 2009.

“This new technology allows advertisers to reach their target customers with appealing video advertising on the hottest platform on the planet, the iPhone,” said Chris Spencer, Wizzard Media CEO.

UPDATE: Rob Walch, Wizzard’s VP of Podcaster Relations, got in touch tonight to add that “the big news is that this feature is now also available for Audio Podcasters – not just the video ones – as was the case when the release first was published.”

YouTube has announced updates to its embeddable video player, including:

• High-quality start images (thumbnails) – Before you press play on embedded YouTube videos, the thumbnails for the video will be presented in high-quality. 
• Search in embeddable player – At the close of an embedded video, along with the usual recommended videos and URLs, a search box will appear. Not only will you be able search from within the embedded player, you will be able to watch videos through the same window. 
• Integrated video annotations – Annotations enable video producers to incorporate text information into their videos, create choose your own adventure-style stories or add links to any YouTube video. People watching videos through the embedded player can now join the fun.
• Integrated closed captions – Closed Captions are now available in embedded videos.

These are all welcome updates, especially high-quality start images.

Video search within embeds helps YouTube extend the reach of its site further into the places people have embedded video, but it does it in a way that’s useful to both site owners and end users.