YouTube clips to hit Verizon phones

NEW YORK (CNNMoney.com) -- Online video sharing site YouTube said Tuesday selected clips from its site would be available on Verizon Wireless phones starting early next month.

The pact gives Verizon Wireless V CAST users the exclusive right to access some of YouTube's most popular videos for a limited time.

They will also be able to record video clips using their phones and post them on YouTube.

"This service offers our community and Verizon Wireless subscribers a new opportunity to connect and engage with their favorite videos," Steve Chen, chief technology officer and co-founder of YouTube, said in a statement.

Chen said YouTube, which was bought by Google (Charts) last month, would launch more mobile partnerships in the coming year.

The deal could give Verizon Wireless, a joint venture between Verizon Communications (Charts) and Vodafone Group (Charts), an edge over its competitors as it moves to broaden its Internet and entertainment offerings.

Verizon Wireless customers can subscribe to V CAST for $15 a month or $3 a day.

Searching for the holy grail of Web-to-TV video