London, UK and Cambridge, MA, July 12, 2007 - Brightcove, Inc., the leading Internet TV service, today announced the launch of its new UK operations and the opening of an office in central London to manage the company's growing business in the region. The Brightcove Internet TV service is already in use by the world's leading media owners, publishers and advertisers, and the company's expansion into Europe opens up new opportunities in the region to grow audiences and develop new revenues using video content online.
Founded in 2004, Brightcove pioneered the development of Internet TV. The company's Internet TV platform gives content owners the ability to tap new revenue and distribution opportunities through the growing convergence of the Internet and television, a trend that is seeing the advent of hundreds of thousands of new programs and channels delivered by major media companies, marketers, and specialist content producers. Today the Brightcove Internet TV platform is used by many of the largest media and marketing brands in the world as well thousands of emerging broadband media companies.
"Consumers in Europe are amongst the world's most tech-savvy and are embracing the transformation that's taking place in the television industry today," said Jeremy Allaire, chairman and chief executive officer, Brightcove. "The Internet is changing the way video content is distributed and this has a direct impact for mainstream media companies looking for new opportunities to grow audiences as well as opening up new revenue streams for both media owners and advertisers. Bringing our multi-layered approach to Internet TV to Europe gives media owners in the region the highest degree of choice and control over the distribution and monetization of their Internet video content."
Brightcove has raised $82 million from investors such as AOL/Time Warner, IAC/InterActiveCorp, The New York Times Company and The Hearst Corporation, and will be making a significant and sustained investment in European operations to service its fast-growing base of media customers. The opening of Brightcove's London office follows the adoption of its Internet TV platform among major UK-based media programmers, including British Sky Broadcasting, Sony BMG UK, Emap, and IPC Media.
"Sony BMG's relationship with Brightcove already brings on-demand access to music videos, interviews and behind the scenes footage to consumers in the US," said Alex Vlassopulos, Business Development Manager, Digital, Sony BMG UK. "Extending this partnership to the UK will provide consumers here with an immersive online video experience, and enables us to generate advertising revenues as well as managing how our content is distributed across the web via social networking and syndication sites."
Rebekah Billingsley, Digital Business Director, Heatworld, Heat Magazine's online presence, said, "Celebrity, fashion and lifestyle news is tremendously fast paced, and our readers need to be updated in the most immediate and compelling way. Working with Brightcove allows us to put video stories online quickly and easily, so that our readers are up to date all the time. As part of Emap's overarching digital strategy to provide news and entertainment as soon as it happens, Internet video plays a key part in bringing publishing into the next era. It also allows us to explore new revenue streams going forward."
Jo Smalley, Publishing Director, Nuts Magazine said, "We are continually seeking new and exciting ways to engage consumers with our brand in the digital landscape. Developing the best video platform possible is a crucial step, particularly one that gives advertisers a wealth of opportunities to integrate with our great broadband content. Nuts and IPC Media are at the leading edge of publishing, and the partnership with Brightcove answered our need to launch the highest quality video channel for the hardest to please audience out there - young men."
Brightcove is an 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 the market-leading Internet video partner for international news and entertainment businesses, including CBS Corporation, Discovery Communications Inc., Dow Jones & Company, Inc., Fox Entertainment Group, MTV Networks, National Geographic, The New York Times Company, Reuters, Showtime Networks, Sony BMG Music Entertainment, Time Inc., Time Life, Warner Music Group, and Washingtonpost.Newsweek Interactive.
Stephen Orr (AxiCom for Brightcove)
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