Update at 6:10 a.m. Wednesday: Specific information about when uploads will cease has been added.
Online video company Brightcove has decided to pull itself out of the user-generated content race dominated by YouTube.
In the future, the site will serve only as a place for Brightcove to host the professional videos that it collaborates on with businesses.
I had personally never viewed Brightcove as a hot spot for user-submitted content, but rather as more of a solution for businesses. I think its decision is a good move for Brightcove and will help it to focus on its efforts and partnerships with companies. Since Brightcove never really established a strong user base for consumer-submitted content, the real value in its service lies in customized, Web-based video for businesses.