A recent report from DJ VentureSource, as covered by NewTeeVee, states that online video related venture funding is down in 2009 from the same period in 2008, from $348 million in Q1/2 in ’08 to $135 million in Q1/2 in ’09. A significant drop, yes, but OV is still getting money which is inspiring nonetheless. But what’s even more compelling is the fact that OV, Platforms specifically, is reaching profitability.
In July we’ve heard from two of the larger players in the online video platform publishing space, Brightcove and Ooyala, that they’ve achieved profitability. Brightcove is considered to be the 800 lb. gorilla in OV publishing, founded in early 2004 and having taken nearly $90 million in funding whereas relative newbie Ooyala has been around since late 2007 and has only received $10 million in VC to date.
There have been other rumblings from online video platform providers stating that profitability is in the near future with VMIX claiming 2009 is their year, hopefully this will prove true for the betterment of every OV start up. It’s a tough market, a competitive sector, and a brutal economy so it’s encouraging to see the platforms reaching the stars.
For what its worth, we don’t only focus our energies on Brightcove and Ooyala, they’ve just been on the media radar lately. To see a wider range of coverage (mentions) take a look at VidCompare 140 in the right column and follow us on Twitter @vidcompare.
Continued success in OV!