Lightningcast specializes in broadband video and audio ad insertion and campaign management and is credited with pioneering developments in on-demand, live, and downloadable web video content.

Earlier this year Lightningcast launched the “InStream” video advertising network, to expand its role in managed insertion of streaming media advertising by becoming a direct seller of streaming media inventory (across its third party network) to advertisers.

AOL has been using Lightningcast’s advertising platform since 2002 for AOL Radio and later for AOL Video, partnering on projects like the recently launched broadband network, “In2TV“, from AOL and Warner Bros. The acquisition is intended to support AOL subsidiary Advertising.com’s efforts to centralize resources for online marketing.

“This acquisition will provide a huge infusion of talent, technology, and publisher relationships for Advertising.com at a time when streaming video is growing at a blistering pace,” said Mike Kelly, President, AOL Media Networks, which oversees Advertising.com.

Kelly called Lightningcast a “clear leader” in the video ad market.

AOL will merge Lightningcast streaming media technology, its 34 employees, and advertising network operations under Advertising.com within AOL’s Audience business unit. Advertising.com’s newly launched pre-roll video network and the InStream network will merge, operating under the InStream name.

The combined network will comprise 300 websites and 175 million monthly streams. Advertisers will be able to target video campaigns across the network by behavior, demographic, and content channel.

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Lightningcast’s existing InStream sales force will continue to focus exclusively on video, and work closely with the Advertising.com sales team to maximize the growing opportunities in video advertising. Lightningcast will also continue to build and expand its third-party video ad-serving business, which serves many of the leading online video publishers.

Kirk Cameron’s there, too, in case you missed him. The In2TV network is made up entirely of on-demand shows you may have forgotten about, or have been longing to see again for the past 20 years. And they’ve even got TV karaoke if the theme to “Alice” never really left your head.

And if you need more than two reasons to watch Linda Carter play Wonder Woman again, then there’s no hope for you, just take the “Perfect Strangers” line to the right.

AOL says it’s the largest collection of free on-demand TV shows on the Web. With the help of Warner Brothers, the IPTV network includes programs from the past 40 years like Chico & The Man, Sisters, Kung Fu, and Lois & Clark.

“In2TV breaks new ground as the first true broadband television network,” said Kevin Conroy, Executive Vice President, AOL Media Networks.

Content is divided into categories like “Toon Topia TV,” “Heroes and Horrors TV,” and “Vintage TV.” All of the episodes can also be found through the new AOL Video Search, and can be viewed full-screen with Windows Media streaming technology as well as in the new AOL Hi-Q video format.

Warner Bros. Domestic Cable Distribution adds that more recent programming will be added periodically.

Similar to broadcast or cable television, the network is advertising supported. Advertisers can choose accompanying banner ads, and 15- or 30-second video ads for programming. AOL says commercials will be limited to a total of 1-2 minutes within each 30-minute episode, compared to 8 minutes of advertising on broadcast television.

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In2TV has Pinky and the Brain!
“What are we going to do tonight Brain?”
“The same thing we do every night – try and take over the world!”

We had to get that out of the way first.

AOL announced the launch of In2TV today, calling it the first broadband television network. They plan to commemorate the debut with an event in Beverly Hills tonight, featuring several actors from the classic series being replayed, and the bestowing of the first In2TV Influencer award to Freddie Prinze, Jr, on behalf of his father’s legacy as a groundbreaking Latino actor.

Six channels themed along genre lines offer a variety of programs, from comedy to drama. Two more channels have been planned for a summer release. A few geek favorites appear in the list of programs: Babylon 5, The Adventures of Brisco County, Jr., and of course the two white mice mentioned earlier.

“In2TV is another important milestone in the evolution of video on the Web, and is one more way that we are making AOL.com the best destination for video online,” Kevin Conroy, Executive Vice President, AOL Media Networks, said in a statement.

The episodes will appear in a full-screen view, using AOL’s Hi-Q video format. AOL said this will deliver DVD-quality imagery, and that the episodes can be found through AOL’s Video Search engine.

On the advertising side, AOL can offer advertisers inventory for commercials, banner ads, and sponsorships of various episodes. AOL plans to keep the ads to about one or two minutes per 30 minute episode, compared to the television model of eight minutes per thirty.

Other content planned for In2TV includes short-form videos and programming themes, and its In2Active TV feature with trivia quizzes and games that run concurrently with the broadcast of certain episodes.

Perhaps the Pinky and the Brain episodes will include the one with this wonderful exchange between the characters:

“Are you pondering what I’m pondering, Pinky?”
“I think so, Brain, but calling it pu-pu platter? Huh, what were they thinking?”

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David Utter is a staff writer for WebProNews covering technology and business.