YouTube may have the video monetization game down, but that doesn’t mean that Facebook isn’t ready to play.

Per this report from Re/code, Facebook is working out a new program where sponsors like the NBA, Fox Sports and Funny or Die will be able to place ads alongside videos put together by creators. As such, a revenue split will be introduced, where said creators can make money via “suggested content.”

This is the first time that Facebook is diving into the ad-revenue based video market, putting it in direct competition with YouTube. With it, Facebook hopes to garner some of  the millions that Google’s video-based site makes with ads on its site, with a similar revenue split between creator and company – 55 percent to 45 percent.

Facebook, however, believes it could have a better program in place when it comes to finding video content, as there will be fewer search terms – and no requirement to be following a certain page to view this content.

“A lot of (our partners) have said this will be a big motivation to start publishing a lot more video content to Facebook,” said Dan Rose, vice president of partnerships for Facebook, speaking with Re/code. “That’s exactly what we’re hoping for.”

The company has already boasted big daily viewing numbers for its site, with over four billion and counting on a daily basis. “Partners say they’d publish a lot more if they could get benefit of distribution but also make money,” Rose added, speaking with Forbes.

Such a deal would be beneficial all around – Facebook would attract more creators, thus getting more attention from advertisers, thus creating a huge revenue flow that benefits all parties.

Facebook added this regarding the testing of the program, per MarketingLand: “We’re running a new suggested videos test, which helps people discover more videos similar to the ones they enjoy. Within suggested videos, we will be running a monetization test where we will show feed-style video ads and share revenue with a group of media companies and video creators.”

It’s too soon to tell just how successful the video program will be – it won’t launch nationwide until this fall – but advertisers and creators are sure to keep a close eye on the results. YouTube as well, for that matter.