Along with what looked like a couple thousand other curious people from the online video, advertising, and marketing worlds, a group of us attended YouTube’s “Videocracy” advertiser upfront here in New York City Wednesday afternoon. A pretty massive production at NYC’s Terminal 5, it was also YouTube’s first real event of notice since the Google acquisition. YouTube pulled out all the stops, including an introduction from founders Chad Hurley and Steve Chen, testimonials from Tom Brady and Anderson Cooper (who showed up in person to talk about the YouTube-CNN debates), and a number of presentations about YouTube’s advertising initiatives, from their internal ad targeting and campaign creation system (called “Ginzu” — it slices, it dices…) to case studies from advertisers like HP, General Mills, and New Line, to their work with the IAB and sites like MySpace and Facebook to develop standards for video advertising. There’s a good recap on Ian Shafer’s blog. And of course — an eclectic mix of entertainment from some of YouTube’s biggest stars, including the Blendtec guy, singer Esmee Denters and Soulja Boy, who performed his ‘Crank that‘ song onstage that inspired tons of YouTube dance videos this year, which played in the background on a big screen.

YouTube set up a nice area for Rob and Corinne from ThreadBanger to meet advertisers and give demonstrations in the How-To pavilion of the event (near our friends from Make Magazine) - and incidentally, ThreadBanger’s featured on the front page of YouTube today for their special Valentine’s Day episode, so we’re appreciating two days of love.

While Rob and Corinne worked their magic (with Soulja Boy, I kid you not, crashed out on a nearby couch), we spent a good amount of time catching up with other people at the event, which included lots of agency and consumer brand contacts, execs from companies like Revision 3, Vuguru, and 60 Frames, and innovators of online video like Andrew Baron and Orrin Zucker. There was a moment when I looked around and realized the group of people standing together off to the side of the stage near me included Tay Zonday, Ian from Smosh, Lisa Nova, Michael Buckley and William Sledd — many of the individuals with the most subscribers on YouTube, standing for the moment incognito chatting together on the main floor, despite the millions who have watched their videos on the site. I thought of other upfronts I’ve attended, where the network stars would be carefully brought in and out of the crowd, and realized I’ll probably be looking back on that moment a few years from now as either the beginning, or the end, of something. Exactly which? Ask me next year.
update: Media Kitchen’s Darren Herman — whose advertising work I’m a big fan of — was at the event as well, and has posted some smart thoughts.