Adobe (ADBE) has conceived of a way for search engines to index Flash content, even pre-existing Flash content, without the need for developer intervention. It’s made content encoded in the Flash file format (SWF), which was previously undiscoverable to search engines, discoverable–and it’s given Google (GOOG) and Yahoo (YHOO) the tools necessary to discover it.

As Ryan Stewart, an Adobe evangelist, explained: “We are giving a special, search-engine optimized Flash Player to Yahoo and Google, which is going to help them crawl through every bit of your SWF file. This Flash Player will act just like a person would in some cases. It will click on your buttons, it will move through the states of your application, get data from the server when your application normally would, and it will capture all of the text and data that you’ve got inside of your Flash-based application. We’ve basically provided a very powerful looking glass into SWF files so Google and Yahoo can pull out meaningful information.”

Google will begin doing that today; Yahoo, whenever it manages. A big change for both companies, especially Google, which has long advised Webmasters concerned about their PageRank to use Flash sparingly. “In general, search engines are text based,” the company explains in its “Creating a Google-friendly site” FAQ. “This means that in order to be crawled and indexed, your content needs to be in text format. This doesn’t mean that you can’t include images, Flash files, videos and other rich media content on your site; it just means that any content you embed in these files should also be available in text format or it won’t be accessible to search engines.”

Today that changes. And now, developers can use Flash to their hearts’ content, without mucking about with workarounds to ensure the dynamic content it makes possible is properly indexed and ranked.

This morning, the company announced a new service that allows publishers to embed ad-supported YouTube videos in their Web sites. The videos will be distributed through Google’s AdSense network and will carry two ad placements: a banner at the top of the video player that can be either text links or a graphical display, and a text link ad at the bottom. Ad revenue will be split between site publishers, video publishers, and Google. The ads themselves, according to Google at least, will be relevant to both video and site content, as well as “unobtrusive.” A win-win service for everyone involved.

“Content distribution on AdSense improves the overall Web experience by connecting consumers with more relevant information and entertainment on the sites they visit,” Google explained. “This new program is a scalable and cost-effective way to distribute content online, creates a new revenue opportunity for publishers and content owners, and helps advertisers reach their target audiences in new and innovative ways. It will also allow AdSense publishers a unique way to enhance their sites with fresh, dynamic content.”

Or gum them up with behemoth video ads fattened with Google Analytics code, something Google would never do to its own famously spartan pages. Remember, text ads save lives, flashy ads take them, as Rough Type’s Nick Carr aptly notes:

I’m sure I don’t have to remind you of how Google used to brag about the way its refusal to serve banner ads was literally saving people’s lives–a claim that earned it some fawning press coverage. Sergey Brin would point to the case where a fellow was in the early stages of a heart attack and went online to find out what he should do. As Fortune Small Business reported:

“ ‘He started using one search engine, but it was too slow because the banner ads were loading, so he switched to Google. After getting the information he needed, he headed to the hospital immediately … “Not only did our search engine save his life, but it shows that these decisions–like whether to use text-based or graphical ads–matter,” says Brin, the co-founder of Google.’

“I don’t think Brin talks about this story so much anymore. While Google has yet to incorporate graphical ads into its search pages, it does serve millions of them up to outside sites through AdSense. I wonder how many people in the throes of a medical emergency have rushed to a health-care information site only to find themselves helplessly waiting for some big animated AdSense ad to load (and, as well, the Google Analytics code to run). Now, these poor souls are also going to have to endure the loading of YouTube videos and their accompanying ads. I can only hope that they’ve kept up with their life insurance premiums.”