UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): February 27, 2013
BRIGHTCOVE INC.
(Exact name of registrant as specified in its charter)
| DELAWARE | 001-35429 | 20-1579162 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
| 290 Congress Street, Boston, MA | 02210 | |
| (Address of principal executive offices) | (Zip Code) |
Registrant’s telephone number, including area code (888) 882-1880
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 7.01. Regulation FD Disclosure.
On February 27, 2013, the Company announced that it plans to discontinue its App Cloud platform and to instead focus on its development of new native player software development kits for mobile devices. The Company will continue to operate App Cloud for existing customers through June 2014. The full text of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or the Exchange Act, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| Exhibit No. |
Description | |
| 99.1 | Press Release of Brightcove Inc. dated February 27, 2013. |
* * *
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Date: February 27, 2013 | Brightcove Inc. | |||||
| By: | /s/ Christopher Menard | |||||
| Christopher Menard | ||||||
| Chief Financial Officer | ||||||
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Exhibit 99.1
Brightcove Launches Native Player Solution for Premium Video Apps on Apple iOS & Google
Android Devices
New software development kits bring together the speed and performance of native smartphone and
tablet video players with the Brightcove media API, advertising, analytics and digital rights management
Brightcove to discontinue App Cloud and accelerate investment in native player SDKs to address mobile
app requirements of premium video publishers
BOSTON, February 27, 2013—Brightcove (NASDAQ: BCOV), a leading global provider of cloud content services, today introduced new native player software development kits (SDKs) for Apple iOS and Google Android devices, integrated with industry-leading advertising, analytics, audience measurement and digital rights management providers. Now premium video publishers can rapidly deliver apps that integrate with the third-party services required for successful video monetization and harness the performance and deep operating system integration that only native technology can provide.
“The biggest challenge facing media companies today is delivering high-quality video across mobile devices with the advertising, analytics and content protection required to propel their business,” said Phil Costa, director of product management, Brightcove. “We architected these new native player SDKs in close collaboration with media industry leaders to provide maximum power and flexibility to developers building video-rich apps for the leading smartphones and tablets.”
The Brightcove player SDKs extend the native video player capabilities of iOS and Android devices with a rich layer of additional functionality and integrations that accelerate development of high-quality consumer experiences. Built-in support for mixed video types and automatic buffering enable a seamless viewing experience, while easily skinnable video controls and layouts enable publishers to fully customize the player to their brand.
The SDKs and next generation player architecture are also designed to support the needs of the Brightcove partner ecosystem, with a rich set of APIs for customization by partners. Brightcove’s native player SDKs have been integrated with Adobe SiteCatalyst, Adobe Pass, Akamai Media Analytics, comScore Media Metrix, FreeWheel, Google DoubleClick for Publishers, Nielsen VideoCensus and Google Widevine. The native player SDKs work with the Brightcove Video Cloud Media API, as well as with other online video platforms.
Pricing and Availability
The native player SDKs for iOS and Android devices are available today free of charge to Pro and Enterprise edition Brightcove Video Cloud customers. We plan to make the native player SDKs available as stand-alone commercial products for customers who manage their own online video platform or use other third-party solutions.
App Cloud Discontinuation
In connection with the company’s decision to emphasize native SDKs, Brightcove today also announced plans to discontinue App Cloud and accelerate investment in its native player SDKs. Brightcove will continue to operate App Cloud for existing customers through June 2014.
“The mobile app development marketplace is emerging and dynamic, and we have learned a great deal from our customers and prospects as a direct result of ramping our App Cloud efforts over the last eighteen months,” said David Mendels, president, chief operating officer and chief executive officer-designate of Brightcove. “By increasing investments in our native player SDKs, we will be able to innovate more rapidly to solve the complex challenges of multi-platform video app development and leverage our leadership position in what we believe is a fast-growing multi-billion dollar online video platform market opportunity.”
About Brightcove
Brightcove Inc. (NASDAQ: BCOV), a leading global provider of cloud content services, offers a family of products used to publish and distribute the world’s professional digital media. The company’s products include Video Cloud, the market-leading online video platform and Zencoder, a leading cloud-based media processing service and HTML5 video player technology provider. Brightcove has more than 6,350 customers in over 60 countries that rely on Brightcove cloud content services to build and operate media experiences across PCs, smartphones, tablets and connected TVs. For more information, visit http://www.brightcove.com.
Press Contacts
North America
Lisa Langsdorf
SutherlandGold Group for Brightcove
212-905-6218
llangsdorf@sutherlandgold.com
Europe
Sheena Riviera
AxiCom for Brightcove
+44 20 8392 4064
sheena.riviera@axicom.com
This press release includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements concerning our anticipated objectives, growth and/or expected product and service developments or enhancements. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” or words of similar meaning. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and will be affected by a variety of risks and factors that are beyond our control including, without limitation, risks associated with our history of losses, our limited operating history; expectations regarding the widespread adoption of customer demand for our products; keeping up with the rapid technological change required to remain competitive in our industry; our ability to retain existing customers; and other risks set forth under the caption “Risk Factors” in the Company’s final prospectus related to its initial public offering filed pursuant to Rule 424b under the Securities Act with the Securities and Exchange Commission on February 17, 2012, as updated by our subsequently filed Quarterly Reports on Form 10-Q and our other SEC filings. We assume no obligation to update any forward-looking statements contained in this document as a result of new information, future events or otherwise.