Speaker 1 0:02

Welcome to this week's edition of the Dan Rayburn podcast, the show that curates the streaming media industry news that matters most, unvarnished, unscripted and providing you with the factual data you need to know, without any of the hype, the Pulse of the streaming media industry.

Speaker 2 0:22

Welcome to the Dan Rayburn podcast. I am Dan Rayburn. Welcome to the Dan Rayburn Podcast. I am Dan Rayburn. Long co-host, mark Donegan. We're doing a quick special podcast today on the recent Brightcove news. We are recording this on Friday, november 29th. So, mark, before we kick this off, let me just say at the top of the podcast I do not own any Brightcove stock. I am not compensated in any way, shape or form from Brightcove, other than they are a sponsor at the NAB show, as is just about every other vendor in the industry, just about everybody else.

Speaker 2 0:49

That's right, but I've never owned Bright Cove stock of any kind. Also, people are asking me I did not consult on this deal between Bright Cove and Bending Spoons in any way. Also, for clarification, I did speak to both companies after the deal was announced, who both said that they couldn't talk about the deal right now because the deal is not going through.

Speaker 2 1:08

Yeah, exactly that's exactly what they should say. Yeah, While I do many times have a lot of background information on deals and whatnot, keep in mind, this deal has not gone through and both companies especially Brightcove, because they're public has all kinds of rules and regulations they have to follow as far as disclosure of information. So just very clear. You know, what Mark and I are going to talk about today are the deal numbers, some background on bending spoons and their size. Also, there's been a lot of really interesting information. If you take the time to read Brightcove's two 8Ks and their 110Q, there's a lot in there. So we're going to go through that today. We're going to recap this. Part of the reason I'm also doing this is it's unfortunate, but once again, there are multiple people in the industry with titles of editor or research director or whatnot Analyst.

Speaker 2 2:00

Just putting out analyst putting out false information, even on the deal, sizes, the numbers. Some that are claiming Breakove has in the hundreds more employees than they do. What Mark and I are going to cover in the next 10 or 15 minutes. I prepped for about three hours. It took about three hours to read all the regulatory filings, go through everything. So if you're an analyst in the space and you're not willing to put that time and commitment in, you really shouldn't be writing about the deal. And you can have an opinion all you want, but we have financial numbers put out by a public company.

Speaker 2 2:33

There's no excuse for getting those wrong, none. So please just listen to those that you trust and make sure that you vet all sources. So let's jump right in here to the deal numbers. We're going to break this up Mark based on impact to employees, stock, the product suite, the patents, some other things that came out in the filings. But let's just start with an overview of the deal numbers. So Bending Spoons it's a Milan-based mobile app development company. They've announced plans to acquire Bright Breakove in an all-cash transaction. That values Breakove at about $233 million.

Speaker 2 3:10

Now for those writing that Bending Spoons has acquired Breakove they have not. They have not. They've announced a deal to acquire them. We expect the deal to close in the first half of 2025. That number comes directly from Breikov. It's always a possibility. A deal doesn't go through. You never know, but this is a deal that has been announced. It is not done. Breikov shareholders are going to receive $4.45 per share in cash for each share of brightcove common stock. Now for employees listing I'll cover your rsus and whatnot. Later. There is information about your restricted stock units as far as the deal goes here.

Speaker 2 3:55

Is anyone surprised by this? I do not think so. You know brightcove needed to do something, uh, to to really change the business here. For the last four years, based on 2024 full year guidance they've already given out. For the last four years, brightcove's revenue will have declined every year for four years in a row, year over year, by a slight amount, but you know it's still. It's not good. It's declining revenue.

Speaker 2 4:21

So let's also go through the balance sheet, because this is important. So bright cove has projected a non-gap loss from operations of a hundred thousand dollars to 1.1 million. So mark some have been asking me are we going to use this now as a benchmark for other deals in the industry? And the answer is no, we can't. Yeah, because you can't use it as a barometer, exactly one-to-one, because you have to look at a company's balance sheet ARPU, free cashflow, non-gaap loss, rate of revenue, growth, number of customers, what debt they might have. There's so many variables.

Speaker 2 5:01

Breikhoff has a very good balance sheet. If you look at it, they have almost $27 million in cash at the end of Q3, and they're expecting to burn up to $1.1 million this year. That is great. The downside there is it's hard to raise money when you're that small, when you're not growing for four years in a row and your stock price is fairly low compared to where it used to be. So Brightcove needed to do something. Pe firms had looked at the business previously. I know some that did. They didn't feel that the market opportunity was large enough for the growth that they wanted to see. All makes sense. Brightcove's 2024 revenue guidance is between 197.7 and 198.7. So if you strip out the cash that Brightcove has at the end of Q3, bending Spoons is valuing the company at just over one time projected 2024 revenue. So unfortunate that Brightcove is not getting a two, three or four times revenue multiple on sales.

Speaker 3 6:08

Sure, that would be good for all of us.

Speaker 2 6:10

Yeah, it would be good for everybody in the industry, even if you don't own their stock. But the reality is these are the numbers. A couple things to point out in terms of revenue, because Bending Spoons is Milan-based, I thought I should point out that for the first nine months of Breikov's revenue of this year, revenue from Europe accounted for $24.2 million. So there's a little bit of tie in there to Europe. Already Breikov has some revenue coming from the European side. Maybe an additional tie in there to bending spoons and then, if the deal is not completed by August 24th of 2025, Brightcove would have to pay bending spoons $7.8 million and something that was disclosed.

Speaker 2 6:58

Also, brightcove's CEO, cfo and CLO have all been given a $200,000 bonus to stay on with the company or one of its subsidiaries through the closing. Somebody asked me hey, does that seem odd that some executives are going to get bonuses? No, not at all. In this particular instance it's not millions of dollars and you need them to stay on to finish the transaction. Also, I do not know when some of these executives contracts were up with Brightcove, so if they were up at the end of this year, I believe one of them was they have no legal obligation to stay and they know changes are coming. Maybe they want to move on to another opportunity.

Speaker 2 7:38

So locking them up until after the transaction is done makes total sense. Makes sense. Now let's go into Bending Spoons. A lot of folks had not heard of them. They didn't know who. They were Not surprising right based in Europe, but they have acquired some other companies previously tied to video. So earlier this year they acquired StreamYard Some listeners might know them as Hoppin and they previously acquired Evernote, wetransfer, filmic Meetup and a couple other companies. As far as how large Bending Spoons is, their last round of equity financing they raised $155 million, which gave them a post-money valuation of $2.5 billion. It raised $340 million in 2022. And earlier this year the CEO co-founder said the company had raised over $500 million to date.

Speaker 2 8:39

So for some of the folks putting out these numbers of the size of bendingoons and they're guessing I don't know why you're guessing Do some quick Google searches. The CEO and co-founder has done a couple interviews publicly in detail, talking about the size of the company, how much revenue they're projecting and how much money they raised. So revenue In 2022, bending Spoons surpassed $100 million in annual revenue and during a media interview earlier this year, the CEO disclosed the company's revenues were $392 million in 2023, and he expected the company to surpass $500 million in revenue in 2024. 2024. Those are the numbers directly from the company. The company is not given an exact number of the number of how many employees they have, but the CEO says it's between 300 and 400. All companies combined. Now I don't know what bending spoons plans is for Breitkopf. I have no insight to it. The company said we'll talk to you once the deal is done.

Speaker 2 9:48

I don't know what they're looking at in the product portfolio, but we all know that the company has a history of mass layoffs and shutting down US operations for many companies it's acquired. So after acquiring Evernote, they closed operations in the US and Chile and they laid off almost all the staff in those areas. They have a track record of moving the business to Europe. That's where they're headquartered. After they acquired WeTransfer, they laid off 75% of its employees. After they acquired Filmic, they laid off the entire staff. And after acquiring Meetup, they moved all operations to Europe and did a mass volume layoffs. So this is not too surprising.

Speaker 2 10:35

A lot of people have written about how Bending Spoons regularly cuts the employee headcount of companies it acquires to operate them profitably and also to have a clear type product focus for that company. Yeah. So while this is not good for Brightcove employees, it's simple business economics. Yeah, you have to operate companies for profitability and for growth, and that is something that has to be taken into account when you're acquiring any new company. And this is the track record in the history that they have.

Speaker 2 11:15

Now, at the end of September of this year, brightcove had 621 employees. It's directly from their filing, so the numbers you see in the 700s and 800s that others are putting out there are not accurate. So, 621 employees. The reason that's important is because, through all the companies that Bending Spoon has acquired, combined, they have between 300 to 400 employees. Combined, they have between 300 to 400 employees. There's no way, from a balance sheet standpoint, they can keep 621 employees on the books of Breitkopf once the deal goes through. Yeah, they just can't.

Speaker 2 11:56

So this is all about how Bending Spoons is going to operate the company in terms of saving money, consolidating and, to give you an example, brightcove has a minimum commitment of $6.6 million over two years for content delivery, network services, hosting and other support infrastructure services. That's in their filing. So just think about combining storage, delivery, backend infrastructure alone is going to save a couple million dollars easily. Yeah, and then this is very important. In q3, brightcove spent 8.7 million dollars in r&d, which was 18 percent of their operating expenses, 9.2 million in general and administration, which is 19 percent of operating expenses, and sales and marketing was 16.3 million at 33% of operating expenses. So if you look at bending spoons, what are they? They're a software company. That's what they do. So naturally they're going to consolidate some of that, but 37% of Brightcove's expenses in Q3 were in R&D and general administration, and that's things like HR, legal finance.

Speaker 3 13:09

It's just out of whack. And when you look at Bending Spoons doing $500 million at least that's what they're projected in 2024 with yeah, what'd you say about 400 employees, roughly.

Speaker 2 13:23

Between 300 to 400.

Speaker 3 13:24

Three to 400. They're doing $500 million and they're able to roll up and acquire these other businesses. Like, look, the macro takeaway that I just if people don't get it, I don't know what's going to cause them to is that if you aren't efficient, you're going to die. That's it, you know that's. And and and I mean efficient in all areas of the business. Uh, you know it. Just, it doesn't surprise me, but it boggles my mind. $16 million in sales and marketing in a quarter for bright cove, like wow, it's a lot, it's a lot, that's yeah, that's not efficient.

Speaker 2 14:04

So we're going to see some of these numbers change. Now let's jump into the product suite here there is some overlap in bending spoons. Product suite for a subset of bright cove customers from stream yard right or well, it depends. They also have an ai photo editing tool.

Speaker 2 14:20

Who knows how they integrate some of these products and services and I am not going to guess. Yeah, I have no idea. However, this is really the first product and platform they've acquired that's enterprise-based, and Bending Spoons came out and also said that they're excited about that. But that said again, let's go to the numbers. Brightcove has a set of what they call premium customers and their ARPU is $8,450 a month at the end of Q3. They have 1,923 of those customers.

Speaker 2 14:54

Now, outside of premium customers, brightcove has what they call starter customers, paying on average $350 a month at the end of Q3, and they have 469 of them. So the product line here, for starters, is the Video Cloud Express and its Zencoder offering, and note that those have month-to-month contracts or pay-as-you-go. Those packages have a price point that start at $200 or $500 a month. In Q3, brightcove starter customers decreased. Brightcove said that's primarily due to their discontinuation of its promotional video cloud express offering. Brightcove has made it pretty clear that they're more focused on targeting premium customers and they expect those volume offerings to continue to decrease in 2024.

Speaker 2 15:46

So, for all we know from a product suite, bending Spoon says hey, let's focus on this particular product, targeting this particular user at a certain size, scale, region, from a geographic standpoint, we just don't know. But they have things here to decide in terms of what their product suite is going to do going forward. We transfer Evernote, meetup. There's really no overlap or integration to Brightcove's product suite. Now of course there could be sort of a one-time hey, every Brightcove customer, we'll give you a 50% off. We transfer if that's what you need. So sure, there could be certainly, and there will be some cross-selling, but not a product integration. So what they do with the product suite going forward, it's really to be seen Something else in the acquisition here. It's important From all the public information I've been able to find. I am not saying this number is accurate, but Brightcove has been granted 53 patents in its history that I can find record of. In Q1, it sold an unknown number of patents to Adelia for 6 million In.

Speaker 2 16:59

Q1, it sold an unknown number of patents to Adelia for $6 million. Yeah, but Brightcove did not disclose how many patents they were, so I don't know what their IP looks like in the acquisition or how many patents they still have. Now. This was interesting. Mark Brightcove disclosed a material weakness in the filings here. So what Breitkopf says is as of September 30th, our management, with the participation of our CEO and CFO, evaluated their effectiveness of their disclosure controls and procedures. They say that they identified a material weakness in our internal control related to ineffective information technology, general controls in the areas of user access, program change, management over our key accounting and reporting information technology or IT system. Okay, well, that's not good. Well, that's not good. However, before we get too worried about this, it wasn't to the point of where they needed to restate any financial statements, so that is good. It didn't change anything as far as their cashflow, their gap, so there are no material misstatements in their financial statements or disclosures and they're not making any changes to previously released financial results. So that is great, because if they had to go and restate earnings, that would have been a problem.

Speaker 2 18:30

Now, obviously, bending spoons is aware of this and obviously felt comfortable with the procedures and process that Breikov had in placefortable enough to where they were still willing to acquire them. So I did see someone bring that up. Is that going to kill the deal? Look, I can't speak on any company's behalf, but obviously Bending Spoons did their work. I should say their homework, yeah, so I don't think that's a problem there. Now let's go to some information on stock, also, if you're an employee listening, so on March 20th of 2023, brightcove granted just over 1.5 million options to some of its employees under its 2021 stock incentive plan. Those options have a stock sorry, have a strike price of $7.

Speaker 3 19:20

Oh boy.

Speaker 2 19:22

And they vest in equal installments over three years. Right RSUs restricted stock units. Following March 10th Now as of September 30th of 2024, there was $19.2 million of unrecognized stock-based compensation expense related to stock-based awards that are expected to be recognized over a weighted average period of 2.12 years. So I am not here, if you're an employee, to tell you what's happening with your stock, please. The company will get you information on that, okay, but if you look at the chart here here, the way this is done with companies, it's called a latticed based model. You can google that l-a-t-t-i-c-e. So lattice based models used to estimate the fair value of the options and the model calculates multiple potential outcomes for that stock, for option exercises, and its goal is to basically establish a fair value based on the most likely outcome of the stock. So if you look at the chart that's included in one of the filings, you can see how many shares are outstanding, how many are canceled, what the average weighted average exercise prices and Mark. They're as low as $7 and 73 cents. Sorry, $7 and 60 cents, $7, 11 cents, $4 and 84 cents. So they're all over the map, but they go all the way up to $8 and 4646. Yeah, so you have to talk to the company or I should say the company if they've not already said what will happen with stock. Obviously, any RSUs that are not vested, those will disappear.

Speaker 2 21:11

Now, at the close of business on November 20th, breykov had just over 45.1 million shares of the company's common stock issued in outstanding. Aracove had just over 45.1 million shares of the company's common stock issued and outstanding. 1.9 million were tied to company stock options. 7.5 million just over 7.5 million shares of the company's common stock were subject to company RSU awards. What that means is there's a lot of RSU awards out there that were allocated that obviously many have not vested, and if they haven't vested, no employee is going to get paid on those and the ones that may have vested.

Speaker 2 21:50

If the strike price was above what Bending Spoons is paying of $4.45, unfortunately, those shares are not going to be worth anything is paying of $4.45, unfortunately, those shares are not going to be worth anything.

Speaker 2 22:06

That said, I don't know what Breikov is sending out to employees regarding their stock and how they might be doing that, because when it comes to company RSU awards, this is the way it works and I am not going to pretend to understand this calculation, so I'll just read this. Let me get to the point. So, whether or not the RSU shares are vested or not, they can be exchanged. Depending on when they vest, they'll have the right to receive from parent or the surviving corporation an amount in cash equal to the product obtained by the following Multiplying the merger consideration by the aggregate number of shares of company's common stock subject to the company's RSU award to the company's RSU award. Provided, however, that with respect to any company RSU award that includes performance-based vesting options right, so this is performance-based. Yeah, so it's complicated. Point is I don't know if anybody's getting any money for a stock that is underwater.

Speaker 3 23:18

Yeah.

Speaker 2 23:19

And that is unfortunately how these deals work yeah.

Speaker 3 23:23

Yeah, it is.

Speaker 2 23:25

Also very quickly. Some people, a lot of people, have been asking about break-off, layoffs. What's coming? When will they announce it? Are the ones coming? Do I know anything? First, I know nothing.

Speaker 3 23:34

Second if, even if you did, you're not going to say I'm certainly not going to say anything.

Speaker 2 23:39

But here's the thing In the filing Breitkopf is prohibited from implementing or announcing any employee layoffs, facility closings, reductions in workforce furlongs, temporary layoffs, salary or wage reductions. They're not allowed to do that. It's actually in the deal. They're not allowed to do that.

Speaker 3 24:01

It's actually in the deal.

Speaker 2 24:02

There's also something called the Warren Act, which is the Worker Adjustment and Retraining Notification Act. There's all kinds of rules and laws around that. Over 20 states have some sort of mass layoff statute or regulation, so Brightcove is not going to be announcing anything, certainly before a deal actually goes down and takes place and the transaction is done. Now, after, could they? Yes, potentially. Sometimes it's not just the company that is doing the acquisition, but the company being acquired might have to give the notice based on the Warren Act and how many days you have and how many days you have but break over is prohibited from doing anything like that during the transaction.

Speaker 2 24:43

So for some that have been asking, are they losing their job in December? I don't see how that could happen based on the legal terms in the document. Also, all we know is that they said that they expect the deal to close in the first half of 2025. But first half of 2025 is January to June. Yeah, yeah, so February and June are two different, you know, far away separate, sorry yeah. February and June have a big distance between them. Yeah, separate, sorry. Yeah, february and June have a big distance between them.

Speaker 3 25:20

Yeah Well, don't you think there's something to that? Bonus for the executives, for the CEO, cfo and chief legal officer through August right?

Speaker 2 25:31

No, no, not through August, just through the transaction.

Speaker 3 25:34

Sorry, I thought there was a specific date, the.

Speaker 2 25:37

August date is if the deal is not done.

Speaker 3 25:39

That's right, okay, okay, sorry, I thought there was a specific date.

Speaker 2 25:42

No, the August date is if the deal is not done, that's right, okay, okay, then Bray Cove has to pay a penalty.

Speaker 2 25:45

Yeah, that's right. Yeah, now something else. If you're an employee Very important Ready For a period of not less than 12 months after the closing date, the parent company shall provide to each employee of the company or subsidiaries, immediately before the effect of time, who continue employment. If you continue employment with the new company, you will get an aggregate base hourly rate that is no less than was provided to each continuing employee immediately prior to the effect of time. You will not have a hourly or base salary cut or reduced by more than 10%. You will still have the employee benefits and welfare, health, defined contribution, retirement plan. So you can read through all this legal wording. But basically what it's saying here is if you continue with the new company and for a period of 12 months after, there could be salary changes or per hour changes, but it will not be cut more than 10%. More than 10%, yeah, so good to see. Sometimes deals like that include those terms.

Speaker 3 26:57

And that quite possibly of course we have no knowledge, but you know that kind of thing has to be negotiated. So you know it's possible that Brightcove management, you know, really negotiated yeah, I mean, we don't know Possibly but maybe Bending Spoons does that for every company. They acquire Does that?

Speaker 2 27:14

Yeah, that's right, I don't know, that's right, I don't know. The other thing is Brightcove did disclose not surprising that they've provided with Bending Spoons a list of every employee's name, title, job and what they get paid, either as a base salary or per hourly. So Bending Spoons has the information. They need to start doing some calculations of where's the overlap. What money are we looking to save? We also don't know how is Bending Spoons going to invest in Breikov going forward. What are they going to contribute to the company as far as the product feature set right? Maybe they're going to invest more money in R&D than Breikov was because they want this to grow to a particular vertical or market. So don't take this as this is all doom and gloom. There's a lot of unknown answers here, but this is the reality. These are the numbers, this is what's in the filing. It's very clear.

Speaker 2 28:12

But at the same time, mark, if we look at, layoffs on AGO started last week. You know, layoffs on Egeo started last week. People were being notified. For many of them they their time will be up in December. For others they will continue for another few months for the transition of the assets and whatnot. But between Brightcove, what I think will come at some point in the new year is some layoffs, and Egeo and Agora did some layoffs as well. They didn't say how many. Yet Some other layoffs we've seen here and there in the industry. I look at more than I would say from all the numbers more than a thousand people who between let's call it, my estimate is between now and the next three months are going to be looking for new jobs. Unfortunately, that's the reality of the market.

Speaker 3 29:04

Yeah, and I, you know, I've reached out to some friends who are, you know, impacted in one way or another, and and some of these names that you mentioned, and you know what, what, what's, you know, sad, but also, uh, you know it's a little. It's unique is that when a company gets acquired and the acquirer just simply doesn't need, um, you know, there's redundant positions. You have people who, for the, you know, for the first time, maybe lost their job, but it, you can argue, no fault of their own, and, in fact, you know, they were actually performing very, very well in their respective role.

Speaker 3 29:45

So, um, what's also a little bit unique is, you know, sometimes when there's job losses, you know it's an opportunity to trim and you know there's there's a little bit of uh, uh, you know there's some other factors that are involved. You know, you think about I'm just going to name Egeo. They'd already gone through a whole sequence of layoffs and reductions, multiple rounds, yeah, multiple rounds, and so the core team that remains, you know are really solid people, you know are really solid people, you know, and, and so that's both an opportunity for companies who do are looking to acquire talent, but it's also a little bit unique.

Speaker 2 30:29

It's also an opportunity for someone to advance their career right it gives you the opportunity to look for something. Maybe you'll get a little more exposure, a little more responsibility, maybe a different title, maybe more money. Maybe it's also an opportunity to say, okay, I'm going to jump into a sub-segment of the industry and maybe I make less, but I'm going to learn, so opportunities will come. Mark. Once we have some more details in the new year, or just what's going on and some numbers, we'll start talking about some resources available.

Speaker 2 30:56

We'll start talking about some resources available. I'm going to put up on LinkedIn soon basically an hour-long class I did at the last NAB Show Streaming Summit about how to advance your career in the industry what you need to know.

Speaker 3 31:05

Yeah, that's great, so I'll put that up so that's what we have on Bright Code, yeah, and I would say I'll just give a quick shout out here as well, and I'm sure you would make the same offer. I am aware of a couple companies. You would make the same offer. I am aware of a couple companies. You know I can't say there's a lot of hiring, but I am aware of a couple positions that are immediately open, that you know for the right individuals, especially in the area of business development. But you know across the board, you know there are.

Speaker 3 31:34

There are people hiring looking for talent, but good talent, experienced talent, good talent, experience talent, talent, experience, but communicate well, Yep, Yep, Exactly, yeah, these, these aren't, you know, sort of entry or mid-level, but correct, Uh, so, reach out. You know, reach out. You know, um, uh, just, you know, just real quick, Dan, I, when I read the news, uh, you know, immediately my, I, I Bending Spoons was, but my mind started racing like, okay, Brightcove, huh, I can sort of see it. But you know, like they bought StreamYard, how does this? So I did some super quick, but you know, I did a little bit of analysis, not quite three hours like you did, but I did some analysis and you know, I think the, the, the StreamYard, the fit, what I'm seeing is and again, this is just my outside view. So you know, we'll see.

Speaker 3 32:27

But you know it's very interesting how the overlap was StreamYard and Brightcove. They, they are both video platforms but they're just focused in two completely different areas. You know StreamYard's more about the browser, BrightCove really is, you know, the enterprise and they are dominant in sort of their respective areas. And I can really see that it's interesting, because I don't know how much of it is like overlap, like, hey, we're going to acquire Brightcove because maybe, you know, we'll adapt, you know, StreamYard to run on the Brightcove infrastructure or vice versa. No, it wouldn't be that, but they're very complimentary.

Speaker 2 33:10

Here's the thing, though Most people creating content in StreamYard are then posting it to YouTube or Facebook. Yeah Right. That's not what people are creating brightcove video for and brightcoves including that hosting element, correct enterprise, which that's not what stream yard does. So yeah, some of the same functionalities there? No doubt, yeah, but as far as who they're targeting and the arpu is and what they're doing in terms of what they're creating, is very, very different talk about arpu.

Speaker 3 33:36

So I, you know so, and this is easy to get, StreamYard, you know it's. It's about 25 to $50 is kind of you know, per month, Whereas for the high ARPU enterprise accounts at Brightcove, as we know, it's like more than 8,000, you know it's nearly a hundred thousand a year, so big difference.

Speaker 3 33:55

And then one other thing I found, and this is just, you know, we don't know if this, this wasn't a factor in them acquiring them, but they both run on AWS infrastructure, and so I just wonder who doesn't run on AWS infrastructure? Well, well, okay, that's, that's true, Dan, that's true, but you know so. Of course, AWS may not be too happy about this, because you can imagine that you know one of the things this gives, you know a bit more power to, and you know Oracle Cloud would be standing there saying, hey, move over.

Speaker 2 34:29

Well, no doubt, Obviously a deal like this, as we mentioned, you're going to consolidate some expenses, yeah, yeah. Absolutely.

Speaker 1 34:34

That's going to be one of them, cloud storage, processing, compute, content delivery.

Speaker 2 34:38

Yeah, that's reality, right.

Speaker 3 34:41

That's the economics here. So we'll see over the next two, three, four, five months or so.

Speaker 1 34:45

I think well before that, how it all shakes out.

Speaker 3 34:48

Yeah, I think we're going to know pretty quickly in the new year. We're going to know quickly.

Speaker 1 34:54

But reach out Anybody who's looking for opportunities.

Speaker 2 34:57

Yeah, reach out Also, Mark. I've already had a handful of people reaching out. What I've always said is you're welcome to reach out. You can see my phone number and my email right on LinkedIn. Yeah, but you also have to be prepared if you reach out. Yeah, yeah, yeah.

Speaker 3 35:12

When I ask for your.

Speaker 2 35:13

LinkedIn page. Hey, Dan, you got a job for me, Right? Or the messages I'm getting is hey, if you know of anyone hiring, let me know. For car sales, what do?

Speaker 2 35:20

you do Exactly, and then I go to your LinkedIn page and you don't even have a title listed. You just work at Brightcove. I have no clue what you do, right? So all I'm saying is, if you want help, you have to be prepared for the help, and if you're not prepared, nobody's going to be able to help you. Yeah, that's what we got. We're going to go record our weekly podcast show now, but we wanted to keep this sort of separate for bright cove. You have any questions? Let me know. Uh, everything that we talked about mark today, I did put up on linkedin. It's a little more condensed than the podcast, but if you just want to highlight the numbers, check that out on linkedin and we'll be back next week with actually, we're only taking one week off in December.

Speaker 1 36:01

Mark, that's pretty good, so we'll be back next week with another weekly roundup.

Speaker 2 36:05

Appreciate everyone listening. Good luck to Brightco folks. I hope it all works out well as best it can for everybody.

Speaker 3 36:11

That's the reality of consolidation in the market.

Speaker 2 36:13

Any questions reach out anytime. Thanks very much.

Speaker 1 36:21

If you enjoyed the show, send it to a friend, have questions for Dan or Mark, connect with them on LinkedIn at any time, and be sure to check out Dan's blog at streamingmediablogcom.