DoubleClick is also launching an "Innovation Lab" for the development of new creative video concepts over multiple digital platforms.
CEO gets new role
Klipmart CEO Chris Young is assuming the role of exec VP-rich media at DoubleClick, reporting directly to DoubleClick CEO David Rosenblatt. Financial terms of the deal were not disclosed.
For Mr. Young, the further integration of rich media into clients' broader campaign strategies is top priority. "Joining forces with DoubleClick gives us the opportunity to integrate the management and measurement of all rich media, display and search channels, providing customers with a combined source of digital marketing technology, service and reporting," he said.
DoubleClick, which acquired German-based rival Falk eSolutions in March, is aggressively seeking a larger share of the streaming-video market. Spending on broadband video in the U.S. is expected to reach $385 million this year, up from $225 million in 2005, according to eMarketer. And according to Jupiter Research, 68% of U.S. homes online now access the web through a broadband connection.
Publishers certify service
With Klipmart, DoubleClick is tapping into existing relationships with leading media buyers in the space. Since April, MediaVest and Carat Fusion have relied on Klipmart to help clients simplify the execution and tracking of their broadband video campaigns across multiple publisher sites. More than 40 major publishers, including Yahoo, MSN and AOL, have certified Klipmart's in-stream service, known as its "Universal In-stream Solution."
In the last year, Klipmart has executed more than 1,000 video campaigns on behalf of blue chip marketers, media and creative agencies.
Klipmart was represented by the Jordan, Edmiston Group, a New York investment bank that specializes in the media and information industries.