Warner Music and Google have announced plans give Google users the ability to stream Warner’s extensive music video collection for free, through an ad-supported revenue sharing agreement, or to purchase videos online for download.

The companies also plan to let bloggers and other site developers embed music videos into their sites and share in the advertising revenue.

Warener’s music video catalog will be sponsored by Google advertisers, making it free to all users. The resulting generated advertising revenue will be shared by WMG and Google. Warner’s music videos will immediately be available for purchase as downloads on Google Video for $1.99.

Web publishers will be able to easily display videos that match the tone of their sites adding value to their online content and creating a new way to earn revenue from their sites. For example, a fan site devoted to a particular WMG artist can run ad-supported music videos from that artist. Each time a user is interested in the accompanying ad and clicks on the link, the Web publisher, WMG and Google will share in the resulting revenue.