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With the increasing consumer base of online video content, it is important for advertisers to understand the video context when targeting video ads to consumers. To improve the consumer experience and quality of ads, key factors need to be considered such as (i) ad relevance to video content (ii) where and how video ads are placed, and (iii) non-intrusive user experience. We propose a framework to semantically understand the video content for better ad recommendation that ensure these criteria.