Brightcove might finally be living up to its potential. The video-on-the-Web player long deemed a YouTube also-ran, CNET reports, has released tools that "make it easier for video producers and Web sites to insert ads into their Internet videos, syndicate their content and sell clips."

Think of Brightcove as a sort of Internet-centric cable TV company. That's how CEO Jeremy Allaire, onetime Chief Technology Officer of Macromedia, explained the business to The Browser last summer: "We have from our inception focused on enabling content producers and programmers to launch broadband programming businesses, what we describe as Internet TV." So instead of individuals sharing videos, they help people create and distribute "channels," just like on TV, with ads. In exchange - either for syndicating shows or selling them via downloads - Brightcove gets a fee.

That Brightcove also has a nicely designed video-sharing site is beside the point. The company's vision is to be a "platform," and they're very prudish about copyright violations. With former senior execs from News Corp, Comcast, Lycos, Disney, and the Discovery channel on board, we're tempted to think of the company as an adult version of YouTube. It's also tempting to assume that YouTube - which never bothered to talk in terms of ad insertions and programming tools - was superficial in its approach, and likely overvalued by Google. But then again, when was the last time a pack of "senior industry execs" ever pulled off a game-changing startup? Ego, preconceived notions, and children often seem to get in the way. We can't wait to see how Brightcove grows up.