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Google announced plans to give AdSense publishers a new way to generate revenue by allowing multiple Google-certified ad networks to compete for display ad space on their sites. This means that AdWords advertisers may end up having to pay more competitively, while AdSense publishers could reap the benefits.

What do you think of this idea? Comment here. Google explains the concept in the following video:

"You may remember that we began to accept display ads served from qualified third-party vendors over a year ago, which helped increase the number of display ads competing on AdSense publisher sites," says Google Business Product Manager Sean Harvey. "With this new change, participating ad networks can also bid in our auction to appear on AdSense sites. This new capability will help you generate the most profit for every ad that appears on your site, whether the ads come from AdWords advertisers or Google-certified ad networks."

The networks themselves are ad agencies and companies that partner with advertisers and publishers to buy and sell ads on sites they don't own. AdSense publishers will now be able to allow advertisers from these networks to compete directly with AdWords advertisers for their ad space. The ad networks:

- Connect advertisers with publishers

- Provide access to additional inventory not currently available with AdWords

- Adhere to Google's standards for user privacy, ad quality and speed

Reporting and payments will still run through AdSense as always, and available ad formats will remain the same as they have been for AdWords. Publishers will still have control over which networks can show ads on their pages, and they can choose to opt out of receiving ads from specific networks, or all networks.

Right now, the feature is only available to publishers in North America and Europe, but Google plans to rolling out to more places in the future.

What do you think about Google increasing competition by allowing ad networks in AdWords? Share your thoughts.