FOR IMMEDIATE RELEASE
BRIGHTCOVE ACQUIRES METASTORIES EXPANDING ITS INTERNET TV SERVICE WITH POWERFUL RICH-MEDIA PUBLISHING CAPABILITIES
The Acquisition Promises Consumers Richer Internet TV Experiences by Giving Media Companies Powerful New Production Tools for Video, Audio and Rich Media.
CAMBRIDGE, MA AND SEATTLE, WA — MARCH 20, 2006 — Internet TV pioneer Brightcove announced today it has acquired Seattle-based MetaStories, expanding the rich-media publishing capabilities Brightcove will offer independent producers and media companies through its Internet TV service.
"Internet TV is fundamentally about delivering video programming through interactive, rich-media experiences that go well beyond what traditional broadcast and cable TV has offered," said Jeremy Allaire, founder and chief executive officer of Brightcove. "MetaStories’ rich-media publishing tools complement the Brightcove Internet TV service and significantly expand our ability to meet the broadband publishing and distribution needs of media companies."
Founded in 2000, MetaStories has become a leading provider of rich-media publishing solutions, used by a wide variety of top-tier media companies including Yahoo!, MSN, USATODAY.com, Discovery Networks, National Geographic, and Scripps Networks. These companies leverage MetaStories tools to produce innovative rich-media, video, and interactive content that ranges from Kevin Sites’ breakthrough Hot Zone on Yahoo! to Scripps Networks pioneering delivery of narrowcast broadband channels.
"We have been working closely with a wide variety of media companies to solve their rich-media publishing challenges, and we’re seeing a convergence between the needs of traditional print publishers and video programmers as they both move into the Internet TV space," said Brian Monnin co-founder and chief executive officer of MetaStories. "By joining Brightcove we are in a perfect position to meet the expanding needs of our existing customers and to help create a broad Internet TV service that will give any media company the ability to easily deliver compelling broadband experiences that include video and other content."
"Internet content is not a side business for Scripps, it is core to our model of serving our consumers," said Channing Dawson, SVP, Emerging Media, Scripps Networks. "Companies such as Brightcove and MetaStories are enabling content providers with tools and distribution to reach our consumers with innovative content, while retaining a very clear brand identity. We anticipate that this match up will yield even greater and more targeted services for media companies throughout the U.S."
The Brightcove Internet TV service allows content owners to simply and easily harness the power of the Internet to distribute content and build broadband businesses. Brightcove is already working with a wide variety of media companies including cutting-edge small production companies such as Barrio 305 in Miami, established cable networks such as Oxygen, global news networks such as Reuters, and diversified media companies such as the New York Times Company.
MetaStories main product, StoryMaker, is a rich-media publishing tool for producing interactive Flash content. StoryMaker is available as an on-demand service, and it is used by interactive producers to quickly and easily assemble video, graphics, text, and audio into custom multimedia experiences. StoryMaker gives everyone from large media companies to small production firms the ability to quickly and easily produce high-quality broadband experiences based on custom templates.
"As Yahoo! News made its first forays into original multimedia content, MetaStories was a key reason we could move quickly and with limited resources to launch projects like Kevin Sites in the Hot Zone and Richard Bangs Adventures," said Neil Budde, Yahoo! News General Manager.
Brightcove plans to continue to develop, market and distribute MetaStories StoryMaker. The product will be available as a stand alone solution and offered as an integrated component of the Brightcove service.
The companies did not disclose financial terms of the acquisition. All MetaStories employees will join Brightcove and remain in the Seattle location.
Brightcove is an open Internet TV service that empowers video producers and programmers to build broadband businesses while giving viewers more choices and control over their use of video and television. Founded by Internet pioneer Jeremy Allaire in 2004 and based in Cambridge, Massachusetts, Brightcove is a private company led by a management team that includes senior executives from Allaire, Macromedia, ATG, Comcast, Lycos, News Corp., MediaVest, and Discovery Networks.
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