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Brightcove, the online video company is going to shut down its free ad-supported hosting service. Also they will be taking down their site Brightcove.tv which contains videos of some of its members. Both services were not generating any money and this was the reason they were taken down. The company generates over 99% of its revenue through sales. The company contains big names as its clients such as Wall Street Journal, HBO and New York Times.

[via Silicon Alley Insider]