• by Gavin O'Malley  @mp_gavin, August 4, 2005

Hoping to capitalize on the nascent streaming ad market, ARG Holdings' Tremor Network this week announced the launch of a contextual video ad network.

Tremor has been selling contextual auto-expanding ads since January, but video was not an option for advertisers until July 15, according to Tremor's co-founder, Jason Glickman. Tremor's network gives advertisers the option to deliver 15-second to two-minute videos automatically, or allow users to initiate videos themselves with a "click to play" feature. Glickman declined to name any sites that will carry Tremor's video ads, but said he's seeing a "huge demand" for a video network.

Tremor appointed a new director of sales, entertainment industry veteran Helen Chung, to head up efforts to find advertisers for the network. Chung comes to Tremor from Hollywood Media Corp. where she served as vice president of national sales for Hollywood Media properties such as MovieTickets.com, Hollywood.com, and Broadway.com.

Additionally, Tremor reported the acquisition of New York design boutique Asphalt Jungle, to shore up its creative capabilities. Asphalt Jungle's clients have included Sara Lee, Marvel, Unilever, and the American Museum of Natural History, among others. It offers services like graphic design, gaming, animation, Web site creation, and interactive banner ads.

The streaming ad market appears to be gaining traction; AccuStream iMedia Research released a report earlier this week predicting that streaming video advertising will increase in value by 78 percent to $343 million this year.