There are CPM alternatives to the pay-per-click model that can offer video content publishers better monetization than Adsense. These impression based publishing networks have often been around for many years, while some are new to the field and thus have less stringent traffic requirements. While the CPM amount that can be earned varies depending on the niche and number of unique visitors/pageviews per month, for new media publishers this amount is often higher than Adsense revenue.
I used to use Overture. I would spend $300-$600 a month on ppc. Think Yahoo bought them. Not sure if there set up for publishers now but someone told me they are. Might be worth looking into, that and Adbight.
AdBrite can come slightly close to AdSense, if you place ads properly. They are CPC and CPM, but you can earn more using them as a CPM network if you gain a lot more pageviews.