There is a video submission form with the pro version of WP-Script Tube Theme. Users can submit video URL of iframe video code but can’t upload video file for security reasons. It automatically creates a post in your WordPress admin as draft and you can decide to publish it or not.
Yes there are advertising locations in the theme options with pro version of WP-Script Tube Theme. You can display banners in the header, sidebar, in video single pages, inside the video player (overlay) and in the footer.