Wednesday - Apr 26, 2017

JW Player calls in some extra capital to compete with YouTube


JW Player calls in some extra capital to compete with YouTube

JW Player, designers and producers of what is regarded as being the world’s most popular video player has recently announced that they have raised $20 million in Series C funding capital, which they intend to use to compete with YouTube, in gaining more of a brand name’s share of the lucrative online advertising market.

Until now JW Player has been content to remain more in the background of video delivery, working in close cooperation with such high-level online entities as IMDB, TripAdvisor, The Guardian, and online gaming giants EA, to name just a few.

According to representatives of JW Player, their video software program has been used to present videos on around two million websites during its 10 year history, with videos being presented by the company viewed by in excess of 900 million people each and every month.

Taking part in the latest round of funding were Greycroft Growth, who also led JW Player’s $5 million Series B funding round in 2012. Also taking part in the funding round were Greenspring Associates and Cueball Capital.

JW Player first appeared on the scene in 2005, under the title of LongTail Video, with the company changing its name only in the autumn of last year.

According to Dave Otten co-founder and CEO of JW Player the company has enjoyed considerable expansion in the last few years as an increasing number of online videos being produced and are being shown on throughout the leading choice of media, especially in mobile format.

Explaining the logic behind seeking more funding, the company’s president Chris Mahl went as far as suggesting that video publishers beginning to seek out alternatives to at YouTube, although suggesting that more will be interested in producing specific for publishing on their own sites.

One particular example, which brought increasing awareness of the possibility of self production is a video produced by American singer-songwriter, musician, parodist, Weird Al Yankovic’s video under the title of “Tacky”, which was first posted using the JW Player platform on the Nerdist website, where it recorded 8 million views during the first 72 hours that it was online. Tacky is now available on YouTube.

For the time being access to the JW Player, although the company does add a token charge for running ads.

The plans are the public will be to see more advertising appearing on videos hosted on JW player, meaning an increase in income for video producers, publishers and advertisers.

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