Brightcove Inc. (NASDAQ:BCOV)
The desire of Brightcove Inc. (NASDAQ:BCOV) to revolutionize the digital video experience has received a major boost with the unveiling of the Enterprise Video Initiative. The initiative seeks to help digital marketers deliver the benefits of online video to their internal audience while also reducing costs.
The leading provider of cloud services for video, Brightcove says marketers will now be able to create engaging video experiences through the In-Page Experiences portal. The video cloud platform has also simplified the use of live-streaming for internal events via Brightcove Live. The platform will also come with audience profiles that allow users to capture and analyze individual video viewing data.
“ […] With today’s announcement, we have added to our platform the functionality every enterprise needs to safely and effectively use and manage video as a core communication utility across the enterprise for both internal and external audiences to drive business results,” said executive vice president Caren Cioffi.
The latest push to create extraordinary video experiences follows the unveiling of a new groundbreaking video compression technology that seeks to cut costs in addition to enhancing viewer experience. The Context Aware Encoding technology uses machine learning and deep video analysis to ensure optimum video quality.
The patent-pending technology will allow Brightcove Inc. (NASDAQ:BCOV) customers to maximize visual quality while also reducing storage and bandwidth requirements. Unlike other technologies, Context-Aware Encoding is designed to take into account broader context of video experience thereby creating a video experience unique to individual users.
The technology will also allow the reduction of delivery costs by up to 50%, perfect for Brightcove media customers that manage hundreds or thousands of videos. The company plans to achieve this by reducing the number of renditions created and optimizing video parameters such as resolution, frame rate, and codec parameters.
Executive vice president Anil Jain expects the new technology to go a long way on simplifying the transcoding process while guaranteeing users a unique video experience.
Q1 Financial Results
Separately, Brightcove Inc. (NASDAQ:BCOV) recently reported a 4% increase in its first-quarter revenue that came in at $37.6 million, compared to $36.3 million reported last year. Net loss in the quarter widened to $5.1 million from $1.6 million as of last year same period. The company exited the quarter with cash and cash equivalent amounting to $29.2 million, compared to $36.8 million as of December 31, 2016.
In Wednesday’s trading session Brightcove Inc. (NASDAQ:BCOV) slid by 0.82% to end the day at $6.05 a share.
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.