ENTERPRISE AND MEDIA ORGANIZATIONS DRIVE REVENUE, ENGAGEMENT, AND DEMAND WITH BRIGHTCOVE SOLUTIONS, INDEPENDENT STUDY REVEALS
Brightcove Inc. (Nasdaq: BCOV), the global leader in video for business, released findings that enterprises and media organizations can generate 225% and 226% ROI respectively with Brightcove and see a full return on the initial investment in less than six months. The commissioned Total Economic Impact™ (TEI) studies conducted by Forrester Consulting examined cost savings and business benefits with Brightcove solutions for enterprise and media organizations.
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Forrester Consulting interviewed decision-makers at multiple enterprise and media organizations with experience using Brightcove. Respondents came from organizations headquartered in the US and EMEA, all with multi-billion dollars of annual revenues. The enterprise interviewees represented industries including automotive manufacturing, technology manufacturing, and media services that primarily use video to sell products and services and train their employees. The media organizations’ interviewees represented decision-makers at media organizations already using Brightcove to stream and monetize their content.
The study found that after the investment in Brightcove, the interviewees’ organizations gained increased insights, reduction in management and distribution time of content, and most importantly increased digital engagement. Decision-makers who deployed the videos hosted by the Brightcove platform in conjunction with revenue-generating offerings found that their organization could use the analytics Brightcove provided to adapt their content to meet the needs of their different audiences whether employees, customers, or partners. Prior to using Brightcove, enterprises had disjointed video management solutions and workflows and strived for improved analytics, the ability to scale content, and syndicate videos for distribution to any source.
One platform product manager in the technology manufacturing sector cited Brightcove’s user experience and easy-to-use interface as considerably better than their previous video provider's solution. Their team realized they could globalize videos more quickly with multilingual metadata, whereas before the team needed to manually change titles, thumbnails, and subtitles. As part of an organization that operates in 27 locales, the team now spends less time on manually translating videos, and more time focusing on high-value workflows, such as content creation and campaign strategy.
Multiple users cited the benefits of Brightcove’s user experience and easy-to-use interface, the business impact of which includes savings on resource expenditure through content management efficiencies including:
- 80% reduction in time it takes to migrate content with advanced processing power
- 83% reduction in time spent on manual content management tasks
- 50% reduction in spend for additional content distribution and management
- 75% reduction in video syndication time
As media organizations search for ways to expand their offerings globally, there is an increased need for superior video quality, faster time to market, and ways to monetize their content. The study found that media customers that use the Brightcove platform can better distribute and monetize live and on-demand video content on multiple platforms more securely and reliably. Prior to using Brightcove, media organizations missed expansion opportunities due to technical complexities like slow transcoding times, failure and downtime during peak demand, and time-consuming quality assurance processes.
With Brightcove’s platform, media organizations are able to expand more easily to new markets and devices through faster transcoding of content, more reliable content processing, and improved end-viewer experiences resulting in increased customer lifetime values.
A global head of media technology at a media/entertainment organization, commented on Brightcove’s constant technology enhancements, resulting in better quality with more bandwidth. After switching from their legacy solution to Brightcove, they noticed a significant increase in quality for their audiences.
Other key outcomes for media organizations include:
- 15-25% increase in potential audience over modeled period
- 80% reduction in time to migrate content to improve ability to scale
- 83% reduction in time spent on manual content management tasks
- 75% reduction in the number of compliance violations
“Companies know that video is THE most effective way of connecting with their audiences. Too frequently, however, companies have not been able to quantify the business benefits or even know what metrics they should be targeting to improve,” said Jennifer Griffin Smith, CMO, Brightcove. “Forrester’s findings provide guidance into the key areas of opportunity for our customers including improved user engagement, increased audience acquisition, new market expansion, and revenue generation. It also highlights, in our opinion, the experience we have at Brightcove in helping companies scale their operations more effectively and measure business impact.”
To read the Forrester Total Economic Impact™ study, visit https://www.brightcove.com/en/resources/downloads/studies/forrester-tei-study/
About Brightcove Inc.
Brightcove creates the world’s most reliable, scalable, and secure video technology solutions to build a greater connection between companies and their audiences, no matter where they are or on which devices they consume content. In more than 70 countries, Brightcove’s intelligent video platform enables businesses to sell to customers more effectively, media leaders to stream and monetize content more reliably, and every organization to communicate with team members more powerfully. With two Technology and Engineering Emmy® Awards for innovation, uptime that consistently leads the industry, and unmatched scalability, we continuously push the boundaries of what video can do. Follow Brightcove on Twitter, LinkedIn, and Facebook. Visit www.brightcove.com. Brightcove. Video that means business™.
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