Feature-length Movies on YouTube?

YouTube, which turned the bite-sized clips of dogs skateboarding into a mainstay of popular culture, is taking steps towards offering longer-form content. Silicon Alley Insider points out a memo YouTube sent to its content partners last week in which it says that long-form content will be allowed. Instead of the 10-minute content cap, content partners can upload files as large as 1GB (just about the size of a full-length standard def movie).

This wouldn’t be the first time YouTube has allowed longer content. It allowed Obama’s entire speech on race earlier this year, and has hosted works as long as 9 hours (titled “Longest Video Ever on YouTube!“) as well as the indie film Four Eyed Monsters and Howard Buttelman, Daredevil Stuntman.

Long-form content used to be the bastard stepchild of online video, but with the success of streaming of full television episodes, heads (and strategies) are turning everywhere. As Fortune writes, the longer format allows for more ads to be inserted into the content, an enticing proposition since YouTube is under the gun to start monetizing those 82 million viewers a month. But in order for those multiple ads to be seen, the content would have to be worth watching all the way through. That’s why YouTube’s been hitting the film festival circuit, talking with directors.

YouTube is making a big announcement tonight at 6 pm PT at a party in Los Angeles, where we’re sure to learn more. Check back in for the full scoop.