AOL eyes Web video market with publishing partnership
America Online Inc. (AOL) struck a deal with a fledgling online video distribution system developer, Brightcove Inc., that will bring Brightcove's video self-publishing system to AOL.com sometime next year, the companies announced Tuesday.
AOL is one of a number of media companies aligning with Brightcove and contributing to the company's US$16.2 million second round of financing, also announced Tuesday. Others contributing include IAC/InterActiveCorp., Hearst Corp. and Allen and Co. LLC, along with several venture capital firms. Based in Cambridge, Massachusetts, Brightcove launched in March with $5.5 million in venture backing. Its founder is Jeremy Allaire, an entrepreneur who previously served as Macromedia Inc.'s chief technology officer.
Others have tried before to conquer the online video market, especially during the dot-com boom. Brightcove's plan is to build a large partner network and offer content owners, both major studios and solo independent practitioners, a range of broadband "channels" for reaching viewers. The company intends to let video owners decide how best to profit from their content, whether through advertising or direct content sales.
Brightcove is currently testing its service with a small number of publishers. It plans to open for business broadly in 2006.
AOL is the first distributor to publicly sign on with Brightcove, although Brightcove's other investors are likely to follow. AOL, a unit of Time Warner Inc., will offer a co-branded version of Brightcove's system that allows video producers to syndicate their content on AOL.com and AOL's other online properties.
AOL Chief Executive Officer Jonathan Miller hailed the deal as another move to fill out AOL's Internet video offerings. Last week, the company announced an agreement with fellow Time Warner sibling Warner Bros. to offer episodes of old television shows on demand online. AOL and Warner Bros.' "personal broadband network" venture, named In2TV, is scheduled for launch early next year.
» posted by jfruh
IDG News Service
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