MUMBAI, June 1, 2017 - Brightcove Inc. (NASDAQ: BCOV), the leading provider of cloud services for video, is expanding its global market leadership into India with key customer wins and the launch of a new office in Mumbai. With several of the country’s top-tier media companies as customers, Brightcove is demonstrating that it is the go-to partner for a wide range of broadcasters, publishers and OTT services as they seek to launch and monetise their online video experiences.
Brightcove’s key customer wins in India include:
- Sony Liv, an Indian general entertainment VOD service that is owned by Sony Pictures Networks India.
- The Viral Fever, one of India’s leading online content creators that recently launched their OTT entertainment channel, TVFPlay.
- Dekkho, a streaming video service specialising in delivering premium content from India’s top content creators.
- Hero Talkies, a SVOD OTT service that specialises in streaming Tamil movie content across 80 countries
- Republic World TV, a newly launched Indian English-language news television channel streaming news across satellite, cable and online.
According to research from Media Partners Asia (MPA), the market potential of online video in India is massive. Online video advertising is expected to surpass US$1 billion in net revenue in India by 2021, according to MPA analysts. Despite having the lowest broadband penetration among APAC’s 14 biggest economies, broadband penetration is on the rise and expected to reach 622 million mobile broadband subscriptions by 2021, according to the MPA study. India’s OTT video market is already the fourth-biggest in the region, behind China, Japan and Australia.
“With 462 million active Internet users1, India is a sizable market for online video and OTT - and it’s growing. Data shows that only 35 percent of the Indian population is using the internet,” Tomer Azenkot, Vice President for Brightcove in Asia, said. “This growth represents a tremendous opportunity for Brightcove which, even prior to its office opening, powers video for some of the top-tier Indian media companies. By adding a talented team on the ground, it will only elevate the way that we serve our customer base and shape the future of video experiences moving forward.”
Founded in 2004, Brightcove has been revolutionising online video experiences for over a decade. Media companies, publishers and brands worldwide use Brightcove to publish and distribute video across the web, mobile and connected devices. Brightcove is headquartered in Boston, with its Asia Pacific offices in Singapore, South Korea, Sydney, Tokyo and now Mumbai.
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Brightcove Inc. (NASDAQ:BCOV) is the leading global provider of powerful cloud solutions for delivering and monetising video across connected devices. The company offers a full suite of products and services that reduce the cost and complexity associated with publishing, distributing, measuring and monetising video across devices. Brightcove has thousands of customers in over 70 countries that rely on the company’s cloud solutions to successfully publish high-quality video experiences to audiences everywhere. To learn more, visit www.brightcove.com.
Radha K Raman
+65 3163 5555
This press release may include forward-looking statements regarding anticipated objectives, growth and/or expected product and service developments or enhancements. Such forward-looking statements may be identified by the use of the following words (among others): "believes," "expects," "may," "will," "plan," "should" or "anticipates," or comparable words and their negatives. These forward-looking statements are not guarantees but are subject to risks and uncertainties that could cause actual results to differ materially from the expectations contained in these statements. For a discussion of such risks and uncertainties, see "Risk Factors" in the Company's filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K. Brightcove assumes no obligation to update any forward-looking statements contained in this press release in the event of changing circumstances or otherwise, and such statements are current only as of the date they are made.
1. Statistia, Number of internet users in the Asia Pacific region as of January 2017