As a Youtube Partner who creates video game reviews on my channel The RPG Fanatic, I frequently get asked about whether making video game reviews are allowed to be monetized or not.
The above video explains Youtube's policy concerning video game footage and fair use. This is important information to know because unless you have permission from a developer to use gameplay footage in your videos, you must abide by Youtube's fair use policy for videogame footage.
Youtube's policy is very strict. They will not allow you to place ads on gameplay if there is no audio commentary tracks you have created yourself, and your commentary must provide educational or instructional value. This means you can't just upload video game trailers and expect to make money; Youtube won't allow you to do that.
Youtube also has an official video that demonstrates how to file a claim for videogame footage if you are invoking fair use,
For more information about fair use and DMCA on Youtube, please check the following links:
Using some copyrighted content in your video:
http://www.google.com/support/youtube/bin/answer.py?answer=143457
Youtube Video Monetization checklist:
http://support.google.com/youtube/bin/answer.py?hl=en&answer=2490020
Partner Help Center: Video Game and Software Content
http://www.google.com/support/youtube/bin/answer.py?hl=en&answer=138161
Center for Social Media: Fair Use for Documentary & Online Video Makers
http://www.centerforsocialmedia.org/fair-use
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