Brightcove Eating Fish And Chips
Online video platform provider Brightcove has been eyeing the British market in its entire increased ad spending glory and they have decided to do something about it. Brightcove announced today that it has unveiled its London office and has extended deals into the U.K. with some of its existing clients. These clients include BET Networks, Hachette Filipacchi and Sony BMG.
The London location was made possible by a $60 million contribution from The Hearst Corporation and IAC/InterActiveCorp.
Adam Berrey, VP of Marketing and Strategy for Brightcove said that “One of the primary objectives of that financing was international expansion.”
According to the Interactive Advertising Bureau Europe, last year $4 billion was spent on online ads in the U.K. and this accounted for 11.4% of overall U.K. as spending. Even though the U.S. spent $16.8 billion on Web ads last year, this only accounted for 5.9% of all ad dollars. The U.K. takes up over 39% of the European market which is the largest take in the continent.
Berrey said that Brightcove chose the U.K. as its first overseas market because, “U.K. media companies have a global presence….They have a very strong interactive advertising business.”
The firm, which is now three-years-old, had previous contacts which also helped the launch. BET, who is a U.S. client of Brightcove, is planning distributing it ad-supported programming to U.K. viewers through BETonBlast.co.uk. Hachette Filipacchi is releasing its first ad supported online video extension on ELLEUK.com using video platform. While Sony BMG UK is also using the Brightcove platform to promote its music labels, RCA Records and Epic.
The Britain based firms that have signed on with Brightcove already include, IPC Media, Marie Claire, NME and Country Life.
Regardless of the groundwork already done in the U.K., there is still strong competition. Narrowstep has just recently signed Virgin Media as a client.
Berrey assures that Brightcove is ready to extend its reach even further with other countries, “We’re definitely looking at continuing the expansion in Europe. I think Japan is going to be important for us as well.”
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