I just received invitation from Google to try out Google TV ads. Anybody interested in Google TV ads can apply for beta test here. Below are few screen shots on how to setup TV ad campaign. Please click on individual pictures for larger image. 

1) In case if you want some professional agency to create video ads for you then you can click on the first option “Go to Ad Creation Market Place”. Those who are already familiar with Audio ads need no explanation regarding this. It is very similar to Audio ad creation marketplace.

2) In audio ad creation marketplace, a button of “TV” alongside “Audio” button can be seen. Click on the “TV” button and you will see the following:

• Depending on your requirements you can filter out agencies based on the budget, turnaround time and other selections. For example if your budget is in the range of $250 to $500 then you can select second option. Agencies are filtered out based on the typical price they charge for creation of video ads. The actual quotation will be given to you by the agency (after you select few of them for quotation). These rates do not include charges which you will be paying to the channels for broadcasting your ad on their network. Different agencies will have different rates.
• You can also filter out agencies/TV specialist based on turn around time:

• It can be one week or 2 day turn around time.
• You can also select filming based on location:

• There are other selections like Voiceover, Pre-produced content library, Rights managed content, live actors and other criterias. More details can be found here .

• You can know whether a given specialist offers Voiceover, Live actors, music by cheking the icons. Please check below picture:

3) After you select few of the specialist, you ask them to bid for your requirements. Each specialist will get back to you with price quotation based on your requirements. Google will recommend you to select at least more than one specialist. Before submitting for bids, you will have to fill out form where you can specify your requirements like goal of the ad, any key messages and other important questions. As said earlier, the process is very similar to Google audio ads.

4) After you get the final creative from Ad Creation Market place, then you will have to upload the video in your AdWords account. The procedure is given here.
5) It’s not necessary that you have to get the creative made by the specialist. If you already have digital video or you can create video on your own/in house staff then you can skip the first part and simply upload final video in your AdWords account. Make sure that final video follows Google Editorial Guidelines for TV ads. You can find the guidelines here.
6) The second option (please refer first picture) is for advertisers who already have video ad on physical tape. Google will get your 30 second ad convert into digital form for you. You just have to post your tape to Google complex in California. Details given here.

7) The last step is to select and submit final video ad to different networks. Click “Create TV Campaign” (refer first picture). After that you will have to select various options like whether to run ads nationally or in Concord and Walnut Creek, CA local market or both.

8) You can select the networks, day and time to run the ads or you can ask Google to recommend a schedule.

9) I made selection of Men aged between 25 to 54 which gave me following results. Not all results are displayed in below picture. It typically showed more of news & sports channels.

10) The next step is to select the video Ad from your AdWords account.

I didn’t went through the entire process. The next step was “Set Pricing” and “Review and Save”. It may also be possible that your ad may not be accepted by the channel/network which you selected (just like audio ads).

The rates are bound to be higher than audio ads. Let me know if someone has more information on this.

Useful Links:
FAQs
https://adwords.google.com/support/bin/topic.py?topic=10644