Brightcove outperforms global online video platforms based on evaluation of market share, global reach, growth strategy, brand strength, product differentiation and technology leverage
BOSTON, September 16, 2014 - Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud services for video, today announced that Frost & Sullivan has honored the company with its 2014 Global Market Leadership Award for online video platforms. Brightcove, which also received the award in 2012 and 2011, was recognized for the market leadership position and platform differentiation of its online video platform, Video Cloud, as well as for the company’s growth strategy, brand strength and global reach.
"Brightcove can be credited with playing a key role in the creation of the online video platform market back in 2004, and the company has maintained its market leadership in the dynamic and fast-growing market in spite of heightened competitive pressures over the past 10 years," said Anisha Vinny, industry analyst at Frost & Sullivan. "Brightcove continues to forge ahead, and the company’s forward-looking product development strategies combined with strategic acquisitions have enabled it to build a best-in-class, end-to-end video platform used by thousands of customers around the world."
The Frost & Sullivan Global Market Leadership Awards recognize companies throughout a range of regional and global markets for superior leadership, technological innovation, customer service and strategic product development.
Brightcove was recognized for its dual focus and strong position across digital media and digital marketing / enterprise organizations and its carefully crafted, forward-looking acquisition strategy. Frost & Sullivan also noted that Brightcove has consistently dominated market share in the online video platform space for more than 10 years thanks to its strong brand and continued growth, as well as the company’s ability to spot trends earlier than most. Frost & Sullivan also believes Brightcove is well positioned to cater to customers looking to acquire best-of-breed point solutions for individual components of what has traditionally been an online video platform (transcoding, DRM, analytics, etc.).
"It's an honor to be recognized by Frost & Sullivan as a market leader in online video platforms," said David Mendels, chief executive officer of Brightcove. "As a still relatively new and fragmented market, being a three-time recipient of this award further validates our strategy, products, market presence and strong team we have in place. Simplifying video publishing and monetization across devices for our customers has been at the core of our strategy from the start. We haven't lost that focus and I attribute a great deal of our success to that."
Additional takeaways from Frost & Sullivan’s full analysis include:
- With 22% market share, Brightcove is the undisputed leader in the global online video platform market.
- Brightcove’s 2013 revenues make it almost twice as large as its closest competitors.
- Brightcove’s global reach is second to none, spanning all geographic regions.
- Brightcove has stayed ahead of trends and added to its product offerings accordingly, which has been key to its product differentiation.
To learn more about Video Cloud and other product offerings from Brightcove, visit www.brightcove.com.
Brightcove Inc. (NASDAQ:BCOV) is a leading global provider of powerful cloud solutions for delivering and monetizing 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 monetizing video across devices. Brightcove has more than 5,500 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.
InkHouse for Brightcove
Waggener Edstrom for Brightcove
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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.