Adeia Renews Multi-year IP License Agreement with Paramount
February 27 2024 - 8:30AM
Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations
shape the way the world explores and experiences entertainment,
today announced that Paramount has renewed a multi-year license
agreement for Adeia’s media intellectual property (IP) portfolio.
Paramount+ continues to be one of the fastest growing streaming
services and in the third quarter of 2023 Paramount+ reported over
63M subscribers.
Beyond its strong subscription operations, Paramount is also
well positioned in the ad-supported sector of streaming video.
Pluto TV, the company’s free ad-supported TV (FAST) service,
remains a global leader in FAST.
“The mix of subscription and advertising-based streaming
services offered by Paramount provides consumers with an array of
options for engaging with digital entertainment in a constantly
changing economic landscape,” said Dr. Mark Kokes, Adeia's chief
licensing officer and general manager, media.
“This renewal reflects our companies’ shared commitment to
providing high-quality digital experiences across the diverse
video-streaming ecosystem,” said Kokes.
About Adeia
Adeia is a leading R&D and intellectual property (IP)
licensing company that accelerates the adoption of innovative
technologies in the media and semiconductor industries. Adeia’s
fundamental innovations underpin technology solutions that are
shaping and elevating the future of digital entertainment and
electronics. Adeia’s IP portfolios power the connected devices that
touch the lives of millions of people around the world every day as
they live, work and play. For more, please visit www.adeia.com.
For Information Contact:Investor RelationsChris
ChaneyIR@adeia.com
Media RelationsStephanie StockerConveyor
Marketingmarketing@adeia.com
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