New Report Highlights Impact of HEVC Codec on Streaming Industry

Rhea-AI Summary

InterDigital, Inc. (Nasdaq: IDCC) commissioned a report by Futuresource, highlighting HEVC as the leading codec for high-quality streaming content. The report discusses HEVC's development, its role in delivering HD and UHD/4K streaming video, and its increased usage by streaming giants like Amazon Prime, Apple TV+, Netflix, Hulu, Disney, NBC, Paramount, and Warner Bros. The addressable market for HEVC-supported devices is expected to expand to ten billion by 2030, indicating significant growth potential.

Positive

• HEVC is forecast to become the leading codec for high-quality streaming content
• Increased usage of HEVC among streaming giants
• Addressable market for HEVC-supported devices expected to expand to ten billion by 2030

Negative

• None.

Report from Futuresource explains how HEVC is forecast to become the leading codec to support high-quality streaming content

WILMINGTON, Del., Dec. 06, 2023 (GLOBE NEWSWIRE) -- HEVC is a codec of choice in the streaming industry, according to a new report commissioned by InterDigital, Inc. (Nasdaq: IDCC), a mobile and video technology research and development company, and written by market research firm Futuresource.

The report, Spotlight on HEVC: The Codec of Choice for the Video Streaming Industry, looks at HEVC’s development, how it enables higher quality video for subscribers, examines HEVC’s increased usage among the streaming giants, and looks at what’s next for codecs in the rapidly evolving delivery of video content. The lower storage requirements and gains in bandwidth efficiency mean that HEVC is closely associated with the delivery of HD and UHD/4K streaming video.

According to the report, Amazon Prime, Apple TV+, Netflix, Hulu, Disney, NBC, Paramount and Warner Bros. all utilize HEVC for content delivery. With 2023 likely to see a notable transition point when the number of UHD streaming subscriptions overtakes standard HD, consumer demand is leading the market to adopt more advanced codecs to support higher quality content. And, with the addressable market for HEVC-supported devices expected to expand to ten billion by 2030, usage of HEVC is poised for significant growth.

“The greater efficiency of HEVC, compared with its predecessor AVC, means that it offers multiple benefits across the video ecosystem,” said Rajesh Pankaj, CTO, InterDigital. “HEVC offers enhanced quality for consumers while not increasing data and bandwidth requirements, helping to speed up the transfer of video and optimizing cloud storage costs for streaming service providers.”

“HEVC’s support of higher quality video, particularly 4K, means that it is an excellent choice for the streaming video industry to satisfy consumers’ demand for more content,” commented Lionel Oisel, VP and Head of Video Labs, InterDigital.

Read the report, Spotlight on HEVC: The Codec of Choice for the Video Streaming Industry, here.

About InterDigital ®

InterDigital develops mobile and video technologies that are at the core of devices, networks, and services worldwide. We solve many of the industry’s most critical and complex technical challenges, inventing solutions for more efficient broadband networks, better video delivery, and richer multimedia experiences years ahead of market deployment. InterDigital has licenses and strategic relationships with many of the world’s leading technology companies. Founded in 1972, InterDigital is listed on Nasdaq.

InterDigital is a registered trademark of InterDigital, Inc.

For more information, visit: www.interdigital.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our current beliefs, plans and expectations. Words such as “believe,” “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “forecast,” “goal,” “could,” “would,” “should,” “if,” “may,” “might,” “future,” “target,” “trend,” “seek to,” “will continue,” “predict,” “likely,” “in the event,” and variations of any such words or similar expressions are intended to identify such forward-looking statements. Forward-looking statements are made on the basis of management’s current views and assumptions and are not guarantees of future performance. Forward-looking statements are inherently subject to risks and uncertainties that could cause actual results, and actual events that occur, to differ materially from results contemplated by the forward-looking statements. These risks and uncertainties include, but are not limited to, those described in our filings with the SEC.

InterDigital Contact:
Richard Lloyd
Email: richard.lloyd@interdigital.com
+1 (202) 349-1716

FAQ

What is the leading codec for high-quality streaming content?

HEVC, as highlighted in the report commissioned by InterDigital, Inc. (Nasdaq: IDCC)

Which companies utilize HEVC for content delivery?

Amazon Prime, Apple TV+, Netflix, Hulu, Disney, NBC, Paramount, and Warner Bros. are among the streaming giants that utilize HEVC for content delivery.

What is the expected growth of the addressable market for HEVC-supported devices?

The addressable market is expected to expand to ten billion by 2030, indicating significant growth potential.

How does HEVC benefit the video ecosystem?

HEVC offers enhanced quality for consumers while not increasing data and bandwidth requirements, helping to speed up the transfer of video and optimizing cloud storage costs for streaming service providers.