MOUNTAIN VIEW, Calif., Nov. 20, 2014 /PRNewswire/ -- Based on its recent analysis of the online video platforms (OVP) market, Frost & Sullivan recognizes Brightcove (NASDAQ:BCOV) with the 2014 Global Frost & Sullivan Market Leadership Award for capturing the highest market share within its industry. Brightcove is the undisputed leader in the global OVP market, having accounted for 22.8 percent of the market share, which is almost twice as much as its closest competitors. Brightcove can be credited with playing a key role in the creation of the OVP market in 2004, and has also maintained its market leadership in spite of heightened competitive pressures.
Brightcove has traditionally catered to the enterprise and media and entertainment industries. In order to effectively target both areas, it split its organization into digital media, digital marketing/ enterprise segments. The digital media vertical focuses on media companies such as traditional broadcasters and publishers that are looking to monetize video. The digital marketing segment is geared toward helping marketers convey messages, and sell ideas and products. This has enabled Brightcove to be a market leader and the incumbent in the enterprise segment.
Brightcove's carefully crafted acquisition strategy is another key factor that has contributed to its steady growth. Its acquisition of Zencoder and Unicorn Media has added best-in-class cloud transcoding and server-side ad insertion technologies to its slew of offerings. This has also allowed Brightcove to integrate these products into its existing platform to build a deeper and more comprehensive solution suite.
"Given the dynamic nature of the OVP industry, the proliferation of vendors, and competition from homegrown video solutions and alternatives such as YouTube and Vimeo, Brightcove's continued growth is a testament to the strength of its brand," said Frost & Sullivan Industry Analyst Anisha Vinny.
Having anticipated the need for scalable, reliable and high-quality live video earlier than most competitors, Brightcove added live video workflows and live simulcast management technology to its swathe of offerings. Frost & Sullivan believes that Brightcove is also superiorly positioned to cater to customers looking to acquire best-of-breed point solutions for individual components of what has traditionally been an OVP.
Through internal technology development and strategic acquisitions, Brightcove now has the capabilities to offer a la carte file and live cloud application program interface (API) for transcoding for customers that only need these capabilities. At the same time, since the company has integrated these capabilities into its Video Cloud and Video Cloud Live offerings, customers can also purchase the end-to-end platform.
Brightcove has a global footprint, spanning all geographic regions; however, more than a third of its revenues come from North America and Latin America. Outside the US, it has presence in the UK, France, Spain, Germany, the UAE, Singapore, Korea, Japan and Australia. The company employs a combination of direct sales and channel partnerships to penetrate these markets.
"Sound forward-looking product development strategies, combined with its strategic acquisitions of Zencoder and Unicorn Media, have enabled Brightcove to build a best-in-class, end-to-end video platform used by nearly 6,000 customers in 70 countries," noted Vinny. "Its strong regional presence, comprehensive product offering, robust partnership and distribution strategy, and continued innovation place it in an ideal position to address global OVP needs."
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis and extensive secondary research to identify best practices in the industry.
About Brightcove
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.
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Frost & Sullivan
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Brightcove Inc.
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Mireya Espinoza
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Kristin Leighton
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P: +1-210-247-3870
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P: +1-617-245-5094
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F: +1-210-348-1003
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E: mireya.espinoza@frost.com
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