Brightcove will take over from AOL’s terrible home-grown video product “beginning in early 2009,” according to an emailed press release. Brightcove will also be integrated into AOL’s Platform-A advertising offering.
This is a pretty big coup for a white-label video service, considering AOL is the ninth-largest U.S. online video property according to comScore.
While AOL’s video player may not have been top of the line, the portal got in early to the web video space race, with its acquisition of Truveo nearly three years ago. It has expanded Truveo as a leading video search destination and tool. It was a launch partner of Hulu and is one of only two sites (the other is Veoh) with whom ABC shares revenue from its video syndication. But it also had failed efforts like a high-definition premium video service that required a download.
Brightcove has raised some $90 million in funding from investors including Accel Partners, General Catalyst Partners, AOL, Allen & Company, Maverick Capital, Brookside Capital, AllianceBernstein, The New York Times Company, Transcosmos, Dentsu, J-Stream, and Cyber Communications.