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February 25, 2010 at 1:36 PM

GSC: Where is social TV for millennials

SAN FRANCISCO — Online video companies Brightcove, Boxee and Roku just spoke on a video panel at the Goldman Sachs tech conference, and Avner Ronen, Boxee chief executive, posed an interesting question: Where is the new social TV for millennials?

This demographic consumes video through YouTube, Hulu or Facebook rather than obeying the rules of the television networks or even cable television. As teenagers they watched it on computers and phones, but they are now moving into their own apartments and will probably want something in their living room larger than a laptop screen.

“If you’re 20 years old and just watch Netflix and YouTube, I’m not sure how much you need a cable subscription,” Ronen said. “The focus should be on young consumers. For them entertainment means something different. They are moving into apartments. The industry should serve them.”

Boxee, a venture-funded company that has no revenue right now, makes software for computers that allow users to connect their PC to a television and stream Web video, television, movies and music. The company wants to build a social media center for television.

Unfortunately, online video is all either free and user generated or free and advertiser supported.

Brightcove, which built a platform for online video production, said there has not been large success geneating revenue from making original online video.

“We haven’t seen the breakaway success of original content for the Internet at the scale where people are looking at over $100M revenue businesses,” said Jeremy Allaire, CEO of Brightcove. “It has taken a long time and it is a disappointment.”

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