Run it through websitegrader.com and see how it fares. It's not the ultimate determinant but it's a decent insight into how well a site is optimsed for marketing/search.
In terms of ads, you can put things like Google Ad widgets on it if you want.
As far as generating something other than pay-per-click ads, you're going to need to do some work. You're going to need to look at your site stats and assemble some information. How many unique IP addresses come each month, how many visits, how many pages are viewed, how long do people spend on the site on average, where are they located. How does your site traffic fit the demo target of your desired advertisers? Does it? One of the things I really like about Vimeo (for Plus users) is the granularity of stats you can get. You can see every place where a video is embedded, click to go to that location and see what the site is all about. With some work you can develop a very strong demographic picture of who's viewing and enjoying your videos. It'd be great if more stats were like that. Have you got a Facebook page for that site? How many fans? Who are they? Where are they? What sort of demo cross-section can you put together from it? Twitter? All of those types of things are going to be of interest to advertisers and in helping you target advertisers that are more likely to be interested in your site. Google Analytics is one tool. My site host has a stats package that I use. I think a lot of hosting providers have that kind of stats package.
What are you going to do for your advertisers? How are you prepared to help them? How can your site help them in (a) reaching their target audience or (b) broadening their audience? If you just want them to put a banner add or something similar on your site and pay you for it, you're probably not going to have a lot of success. At least not with any kind of decent rate scheme.