Disney and YouTube are set to announce a partnership that will bring original Disney programming to the halls of the biggest video site on the web.

According to the New York Times, the deal is worth around $10 to $15 million and will bring Disney media to its very own YouTube channel. The original content will be produced entirely by Disney, and then distributed on a “co-branded channel on Disney.com and YouTube.” The new channel will also include other related YouTube content.

The first new series on the channel will be a show based on a puzzle app called “Where’s My Water.”

The motivation behind the deal is pretty obvious from Disney’s standpoint. Apparently, the company looks at the deal as a path to web videos “that can be monetized quickly.” The company has reported losses over the last few quarters, and Disney.com’s traffic is also down.

For Disney, YouTube’s popularity gives their content a better chance to be seen.

For YouTube, this looks like a move in the quality content direction. Late last month, YouTube officially announced that they would be making a push for new original content, with dozens of new channels filled with quality programming. It’s all in an effort to establish the site as a rival to cable – a place where there’s not just free content, but really good free content that can challenge standard television.

YouTube channels will feature well-known personalities and producers from many different sectors including film, food, sports, news and more. The first of these channels will go live this month, with more rolling out over the next year. You can check out some of the first entries and sign-up to be notified when they go live here.

So YouTube wants to bring quality content to their site, and Disney wants the exposure that YouTube can provide. Looks like a pretty solid matchup.

In other Disney/Google hookup news, The Muppets will be holding a Google+ Hangout on Monday evening, 7:30 EST.

What do you think about a dedicated Disney channel on YouTube? Let us know in the comments.