Yahoo Finance Brightcove (BCOV) Boosts Customer Base With the Addition of JCOM
Brightcove Inc. BCOV, renowned for its reliable streaming technology, recently announced the addition of JCOM Co., Ltd. as a new customer. JCOM, Japan’s largest cable TV company, has selected Brightcove to power its latest streaming service, Ikimono Watch ("Animal Watch"), which will broadcast captivating content from zoos and aquariums across Japan.
Ikimono Watch is a unique streaming app integrated with JCOM set-top boxes, built using Brightcove’s Android software development kit (SDK). The app leverages Brightcove’s Video Cloud to securely house and manage video content sourced from various zoos and aquariums across Japan. The Video Cloud API ensures efficient content retrieval and a seamless viewing experience, making it an integral part of Ikimono Watch’s strategy.
Mr. Masaki Uchiyama, JCOM's general manager of the Next Gen. Platform Development Department, praised Brightcove's role in the smooth launch of Ikimono Watch. He noted that Brightcove's expertise in video distribution significantly contributed to the successful introduction of the new streaming service and emphasized the importance of Video Cloud in the ongoing growth of Ikimono Watch.
JCOM's decision to partner with Brightcove is a significant endorsement of Brightcove's platform capabilities. Chiyo Yanagita, the country manager of Brightcove Japan, expressed enthusiasm about the collaboration, highlighting that JCOM's choice underscores the reliability, security and scalability of Brightcove’s platform. This partnership marks a strategic expansion for Brightcove in the Japanese market, showcasing its robust streaming solutions.
Despite growing its client base, shares of Brightcove have declined 20.9% year to date (YTD), underperforming the Zacks Internet – Content industry’s growth of 9.5%. The underperformance reflects continued challenges in overages and add-on entitlements, which are hurting BCOV’s revenue growth.
Brightcove Inc. Price and Consensus
Brightcove Inc. price-consensus-chart | Brightcove Inc. Quote
Expanding Market Reach
With the addition of JCOM, Brightcove continues to enhance its customer base, which includes notable media companies like AMC Networks, BBC Studios and SKY Mexico. This growing portfolio underscores Brightcove's ability to deliver high-quality, scalable streaming solutions to major media entities worldwide.
Brightcove's partnership with JCOM highlights the company's strategic expansion and ability to secure high-profile clients. This collaboration is likely to boost Brightcove’s market presence and revenue streams. As streaming technology becomes increasingly essential for media companies, Brightcove’s proven platform positions it well for continued growth and success in the industry.
In summary, Brightcove's new alliance with JCOM reinforces its status as one of the leading streaming technology providers. The successful launch of Ikimono Watch demonstrates Brightcove’s capability to deliver seamless, high-quality streaming experiences, further solidifying its market position.
The latest deal with JCOM also illustrates the gradually growing acceptance of Brightcove’s technology in the intensely competitive video streaming space. Brightcove faces stiff competition from big players like Alphabet’s GOOGL YouTube, Netflix NFLX and Vimeo VMEO in the video streaming space. These companies have a significant competitive advantage over BCOV due to larger marketing budgets, and greater financial and technical resources.
Alphabet’s YouTube is a big platform of user-generated and professional content for marketers, social media managers and creators. YouTube provides hosting, streaming and monetization solutions for businesses. Netflix poses an indirect challenge for Brightcove because of its ad-streaming services alongside its vast library of movies, TV shows, documentaries and original content. Vimeo allows users to create, manage and deliver video communications to drive customer engagement.
Brightcove doesn’t have a Zacks Rank at present. Currently, GOOGL, NFLX and VMEO each sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
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