numnum - 11:19 pm on Oct 27, 2011 (gmt 0)
I don't think so, at least not with respect to YouTube videos. As I'm sure you know, revenue from clicks on the superimposed ads go to the video producer, not to the owner of the site on which the video is embedded.
Indirectly, though, embedding relevant videos can make a site stickier, as long as the typical viewer doesn't decide to "watch on YouTube" instead. (A sufficiently large display size would probably help in this regard.) I've considered putting ads within eyesight of an embedded video that is more for listening than watching, so while the video is playing the viewer's eye wanders around the page a bit and sees the ads. But I haven't actually tried it.