You Tube has teamed with Sierra Mist to present the “Sketchies,” a three-round video elimination contest. The contest starts May 24 (Friday) and judges will complete their recognition of the first of three rounds by 7 June (I would get the video in ASAP, however). The grand prize is a production budget from Sierra Mist that allows the winner to create an online ad for its Sierra Mist Lemon Squeeze, which is being launched 21 May.

A panel of top Hollywood agents will review all initial entrants and choose 20 for presentation to the YouTube community. The community’s votes will determine 10 second-round entrants, who will provide the next episode of their series, with five becoming finalists and putting a third series episode at the mercy of the community. The nine-week competition ends July 12. Visit the site for details, or just watch the video above.