Configuring Kaltura module in drupal 7
According to Kaltura module documentation here http://cgit.drupalcode.org/kaltura/plain/README.txt?h=7.x-3.2

You should download the php version of API from here   (http://cdnbakmi.kaltura.com/content/clientlibs/php5_16-12-2014.tar.gz) and place it under DRUPAL_ROOT/sites/all/libraries/KalturaClient directory. 

Note: The directory name is case-sensitive.

Alternatively you can use drush for this.Here is a command for drush.

    Drush kaltura-client-install