Brightcove is an Internet TV platform and network which allows both established media companies and singular individuals to produce and publish video online and then make ad revenue from the resulting content.

It is now in the process of changing its service from the ground up, with Brightcove 3, a completely rebuilt service now going in to private beta before a full release in the autumn.

By way of sending out a message to all their many users, Brightcove has announced that it is soon going to be closing the YouTube-style consumer video community, which currently resides at the Brightcove.TV domain.

As of December 17, 2007, users of the video service and community will no longer be able to upload videos, as the website will be refocused to provide a central destination for the professional distribution and promotion of the company’s network of media partners.

Brightcove has always seemed more focused on developing methods of distributing and monetizing videos, providing a platform for several high-profile clients, so what exactly took this team so long to realize that running a YouTube competitor was not the way to go?

Yesterday, Google YouTube officially debuted its new in-video ad delivery system.

After weeks of experimentation, the first embedded video advertisements went live.

Trawling my selection of news feeds this morning, I came across several rather amusing bits on a spat (well, maybe not a spat, but I’ll put the word to use here anyhow) being had between VideoEgg and YouTube.

The former is more or less accusing the latter of stealing its overlaid-ad thunder. 

The latter’s response, well, actually there’s been no response, from what I gather. 

Fox Entertainment Group has announced a partnership with Brightcove to launch internet video channels of all Fox broadcast and cable content, including FX Network, Speed and Fox Broadcasting.

This deal is interesting because it allows syndication of Fox content throughout the internet using embedded video. Fox will handle advertising for all content displayed in the Brightcove player. Fox Entertainment Group’s content will extend beyond just Fox’s websites.

Brightcove has existing agreements with major players like CBS, MTV Networks, and Discovery, although none have been exclusive. This new deal is for Fox’s exclusive online partnership. You won’t be seeing Fox content on YouTube anytime soon.

Content is king for internet video. This is a major deal for Brightcove, which is aiming to ink similar exclusive partnerships with other major networks and companies.

CBS has decided to really take the bull by the horns and bring a lot of its content onto the internet including full TV shows (think CSI, Survivor and Late Show with David Letterman) as well as numerous sporting events including championship boxing.

Its new online TV service is called “Interactive Audience Network” and is really giving the finger to YouTube.

Who needs YouTube

This is one of the biggest pushes to bring traditional TV content online we’ve seen to date.

CBS has agreed distribution deals for all this TV content with a number of online platforms, but guess what, no YouTube.

A publisher using the Brightcove online distribution system has created a neat application using the Brightcove APIs. BlennyLips.com, a scuba diving site, is using the application to present relevant text links with the video content as it plays.

The links appear in time with the creatures appearing on screen and link to further information on the animal. The video also features a Google Map showing the location of the dive site.

Jeremy Allaire recently discussed the future of internet television during his Keynote speech at the Fall 2006 Video on the Net Conference. You can watch the 30 minute video of him below.

Jeremy was unsurprisingly focused on the Brightcove product, and I must admit, if I was a serious content creator I would be signing up and using Brightcove quicker than a cheetah that’s just been kicked in the balls.

Brightcove offers so much to anyone who has quality content to post on the internet with more monetization options than anywhere else and clear control over how the content is displayed and where it is syndicated. Much of the Jeremy’s talk discusses what Brightcove does, and if you have listened to any of Jeremy’s talks before it may sound familiar.