SINGAPORE, 9 March 2016 - Brightcove Inc. (NASDAQ: BCOV), the leading global provider of cloud services for video, today announced that The Viral Fever (TVF), one of India’s leading online content creators, selected Brightcove Video Cloud to power TVFPlay, its recently launched OTT entertainment channel. Featuring popular original webisodes, satirical online videos, and a selection of curated TV shows from around the world, TVFPlay’s content is accessible through a range of devices and is available to consumers for free.
Founded in 2012, TVF targets India’s large millennial audience, comprised of 18-35 year olds1, who consume an average of 3.5 hours of video each day2 and represent 75% of the country’s 400 million Internet users3. To reach this demographic, which is shifting away from traditional linear television, and meet the growing demand for its web-exclusive content, TVF selected Brightcove Video Cloud to launch an independent, OTT service across a range of devices and social platforms.
TVF selected Brightcove to help establish TVFPlay as a premium video entertainment offering, given Brightcove’s leadership position and proven track record in helping media companies to successfully deliver and monetise video. With Brightcove Video Cloud, TVF was able to go live with an OTT platform that came with low total cost of ownership whilst helping TVF to maximise reach and revenue potential.
Dhawal Gusain, COO of The Viral Fever said, “As with most media start-ups in India, we initially hosted our videos on YouTube. As our video libraries grew, we required a more sophisticated, robust and scalable video streaming platform that would enable us to manage our own distribution channel and support a long-term monetisation strategy. For these reasons, Brightcove became an easy choice. We were also confident seeing that the world’s leading media companies use Video Cloud. Now, we are empowered to manage our own premium channel, monetise content, and obtain valuable insights into audience viewing metrics that can help us effectively scale and grow as a world-class media network.”
“As we continue to build our brand among the Indian youth, a sizable opportunity exists to capitalise on our growing number of subscribers and a revenue share model was no longer feasible. Our ambition was to evolve our business model to an independent one and that meant retaining 100% of the revenues on our own platform,” added Gusain.
“The Internet has enabled the rise of new media players such as The Viral Fever, who have found tremendous success in creating a niche for themselves in the Indian TV market,” said Tomer Azenkot, Vice President of Asia. “In particular, millennials in India are turning to the Internet for their source of entertainment as linear TV programming continues to cater to an older generation. With TVFPlay, The Viral Fever has a winning strategy on its hands in targeting that Internet-savvy millennial demographic, and the success of its shows are proof of the demand for this content. Brightcove is incredibly proud to be the technology partner as TVF continues to define the TV space in India.”
1_Comscore Digital in Future Report
2Internet and Mobile Association of India
3Millward Brown AdReaction: Video Creative in a Digital World 2016_
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 more than 5,000 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.
SlingStone for Brightcove
+61 421 759 173
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.