Brightcove is a Cambridge, MA based company that produces an Online Video Platform (OVP).
Brightcove was founded in 2004 by Jeremy Allaire, who now serves as CEO. In March 2006, Brightcove acquired Seattle-based Metastories, makers of StoryMaker, a publishing tool for video, audio, images, and text. In May of that year it established a distribution partnership with TiVo and a content delivery partnership with Limelight Networks.
Coinciding with a series of deals with UK media companies, Brightcove opened an office in London in July, 2007.
In November 2009, Brightcove was named as one of the top two US video platform vendors.
In April 2010, it was reported that Brightcove raised $12 million in fourth-round funding, nearing a total of $100 million, but still barely breaking even with the projected $50 million in annual revenue.
Internet TV partnerships
In December 2005 Brightcove partnered with Reuters to create a program to syndicate customized news video players. In 2006, Brightcove completed Internet TV partnership deals with a number of large media companies including The New York Times Company (NYTimes.com and About.com), Discovery Communications (Discovery Channel, Travel Channel), and Sony BMG among others. In 2007, Brightcove capitalized on a trend of magazine and newspaper publishers expanding into online video by signing deals with print media companies including Time Inc., TV Guide, and Washingtonpost.Newsweek Interactive.
Since then, a number of television and cable media companies began to use Brightcove as an alternate, non-exclusive distribution channel for their video content.
The Brightcove Studio was home to the Brightcove Internet TV platform. Geared toward professional video publishers, the studio was used to create, customize, distribute, and monetize video player widgets. Videos, lineups, players, and online channels were all created and managed through a content management system called the Brightcove Console, a Flex-based rich internet application. Monetization was achieved through video sales and advertising.
Brightcove.tv was a video website dedicated to promoting Brightcove content. Every publisher who created a Brightcove account was assigned a channel, their own page on Brightcove.tv.
Publishers could customize their channel through the Brightcove Console. Simple details like the channel’s name, logo, and description could be updated in the user’s profile. The content of a channel was defined by changing the settings of individual titles, lineups, and players to allow distribution and promotion on Brightcove.tv.
On December 17, 2008, Brightcove shut down Brightcove Network accounts that have not been upgraded to paid Brightcove platform accounts. At the same time, they shut down the Brightcove.TV website (which is separate from the corporate Brightcove website).
In 2009, Brightcove received Streaming Media Readers’ Choice Award, CSI Product Award,. In 2010, it was named in Lead411′s List of Hottest Boston Companies.