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YouTube No Longer “Glaring Exception” in “Pool” Lineup

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“The Pool,” the industry consortium taking a long view on online video ad formats, has filled in a notable gap in its lineup by signing up the largest video-sharing site, YouTube (s GOOG), reports MediaWeek.

The Pool, which was formed by Publicis Groupe’s VivaKi around the start of this year, includes video hosts Microsoft (s MSFT), AOL (s TWX), Yahoo (s YHOO), CBS Interactive (s CBS) and Hulu and advertisers Allstate, Capital One Financial, General Mills, U.S. Cellular and DineEquity’s Applebee’s. The group has set a long-term agenda for standardizing video ad formats and will now also look at short-form video monetization specifically. Besides YouTube, other new partners include Denny’s, Walgreens and Wal-Mart. But while The Pool is winning key partners, others such as MTV Networks have reportedly decided to sit out, and some are impatient with the initiative’s timeline — the first report on ad formats isn’t due till next February.

YouTube’s lack of participation in The Pool had previously been called a “glaring exception.” But it seems the video giant and the consortium have figured out they have something to gain from one another. From MediaWeek:

“Getting YouTube involved like this is a great opportunity to expose them to those advertisers that they are more than UGC and that they are starting to get their act together,” said Tracey Scheppach, senior vp, video innovation director, Starcom MediaVest Group, who’s serving as point person on The Pool. Plus, YouTube’s participation is equally crucial to the endeavor’s potential impact. “Considering how much short-form video they have, it’s incredibly important to me,” she added.