Roll over Oscar and tell Emmy the news.

In a move that will foolishly encourage deluded wannabe filmmakers around the world, YouTube said today that it will give awards for excellence in user-generated video.

YouTube will nominate videos in seven categories: most creative, most inspirational, best comedy, musician of the year, best commentary and "most adorable video ever," according to the Associated Press. Perhaps the site should add a few other categories such as best Madonna lip-syncing, weirdest pet tricks and excellence in pirating video.

Nominees for the as-yet unarmed award will be compiled at a gallery where YouTube users can vote on their favorites from Monday through Friday.The winners will be announced March 25.

Even though this will lead to crimes against video, I think it's a smart idea for the Google Inc. (NASDAQ:GOOG) site to tap into the enthusiasm of its users.

Now. if YouTube can only figure out how to make nice with media companies and make a profit, shareholders would give Google an award that never gets dusty on mantle: a higher stock price.