Google is adding the indexing of the audio from video clips to their searches of Google Video and YouTube. While currently an experimental feature, this could be another "killer" application for search. Media Monitoring companies will certainly be able to use this feature, as they need to be able to find client mentions from all media types. It will be interesting to see if Google decides to extend this technology out to other audio formats, such as broadcast radio ...
Read more about this at: http://labs.google.com/gaudi.