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Brightcove, a global provider of cloud-based solutions for publishing and distributing professional digital media, has announced financial results for the third quarter ended September 30th, 2012.
Total revenue for the third quarter of 2012 was $22.1 million, an increase of 32 per cent compared to $16.7 million for the third quarter of 2011. Subscription and support revenue was $21.5 million, an increase of 35 per cent compared with $15.9 million for the third quarter of 2011. Professional services and other revenue was $0.6 million, a decrease compared to $0.8 million for the third quarter of 2011.
“We are pleased with our strong third quarter results, which once again exceeded our revenue and profitability guidance,” said Jeremy Allaire, Chairman and Chief Executive Officer of Brightcove. “After pioneering the online video platform market, Brightcove has continued to push the pace of innovation with our expanding suite of cloud-based solutions, including Video Cloud, App Cloud and Zencoder. We believe that we are in the very early stages of a fundamental shift in how digital content is being delivered and consumed. We view this as a significant market opportunity, and Brightcove is focused on leveraging our first mover advantage into continued, long-term market leadership.”
Brightcove has also disclosed that Viacom has adopted the company’s cloud services for digital content delivery across platforms and consumer devices and will be using Brightcove player technology across multiple properties for Web and mobile distribution. Viacom is one of the world’s leading entertainment brands with media networks reaching approximately 700 million global subscribers.
Other Q3 customer wins announced nclude All Nippon Air, Discovery Networks International, Exact Target, Nikon and Yves St Laurent.