Xperi Posts $502 Million in Revenue for 2022

Entertainment technology company Xperi, which owns the TiVo brand, announced revenue of $136 million during the fourth quarter, up 9% from the year-ago period, and full year 2022 revenue of $502 million, up 3% from 2021.

For the fourth quarter (ended Dec. 31, 2022), Xperi announced a GAAP net loss of $297 million and non-GAAP net income of $4 million. Adjusted EBITDA was $4 million for the fourth quarter, resulting in an adjusted EBITDA margin of 3%, Xperi announced.

The company booked a non-cash charge of $258 million in the fourth quarter for goodwill impairment and real estate restructuring in connection with its year-end review.

Full-year results include the Xperi product business on a carve-out basis for the first nine months, during which time it was part of Xperi Holding Corp., now known as Adeia.

“Our first quarter as an independent company was underscored by substantial market progress, notable design wins, and strong financial performance,” Jon Kirchner, CEO of Xperi, said in a statement. “Consumers are demanding higher-quality digital experiences and our customers and partners are increasingly selecting our independent media platforms to meet that demand. We are intensely focused on expanding our platform adoption and our recent design wins in smart TV and connected car are a testament to the ongoing success of our growth strategy.”

TiVo IPTV continued its double-digit subscriber growth in the quarter and finished 2022 with subscribers up 80% and revenue more than doubling compared to 2021, according to Xperi.

TiVo’s partner Vestel, the first smart-TV OEM to incorporate the TiVo Operating System (TiVo OS), announced the brand lineup for their smart-TVs Powered by TiVo will be Vestel, Hitachi, JVC, Daewoo, Regal and Telefunken. These TVs will feature chipsets from MediaTek. TiVo OS will be integrated onto Amlogic’s 4K and 2K chipsets designed for smart TVs, significantly reducing cost and time-to-market for TV OEMs looking to roll out TiVo’s independent media platform, according to Xperi.

DTS:X, Xperi’s immersive audio technology, will be integrated in LG’s new line of OLED and premium LCD TVs, expected to be in the market in the first half of 2023. The company announced that Sony Pictures Entertainment, Imax Corp. and DTS have extended their agreement to distribute multiple new titles in the Imax Enhanced format, featuring DTS’s premium audio technology. Xperi announced DTS:X is expected to launch on Disney+ in 2023.

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Xperi was awarded its first design win for TiVo’s video platform in connected car with a major European automobile manufacturer, with vehicles expected to ship in late 2023, the company pointed out. DTS AutoStage is now in production with five car brands and being deployed in more than 100 models across 140 countries. The company was awarded a new design win for DTS AutoSense, Xperi’s Driver Monitoring System (DMS) and Occupant Monitoring System (OMS), with a major Asian automotive OEM, which will significantly expand Xperi’s DMS and OMS footprint beginning in 2024, according to the company. Xperi ended 2022 with committed business in connected car, consisting of HD Radio, DTS AutoStage, and DTS AutoSense, totaling more than $300 million.

Xperi Adds Imax Signature Sound, DTS:X to Disney+, LG OLED TVs

Xperi Jan. 4 announced that the integration of its DTS:X audio technology into Imax’s Enhanced signature sound platform is expected to launch on Disney+ this year, with the SVOD/AVOD platform looking to deliver enhanced audio and visual technology to select Disney+ movies in the home.

DTS,  a wholly owned subsidiary of Xperi Inc., is aggressively trying to embed its technology in more consumer electronics devices, including LG’s latest OLED and Premium LCD televisions, to enhance the home entertainment experience.

DTS:X technology for TV claims to offer a cinematic audio experience directly to the living room on compatible 4K HD televisions. With the introduction of LG’s previously reported newest OLED and Premium LCD TVs featuring DTS:X technology, LG’s customers stream movies in immersive sound from their TV speakers. LG also has a line of DTS:X-enabled soundbars designed to be paired with LG TVs to further elevate streaming and Ultra HD Blu-ray Disc movies.

“DTS is enabling a new level of audio experience to the home,” Jea Yoo, president of Korea at Xperi, said in a statement.

Rakuten TV Expanding Imax Enhanced Movie Collection to 100 Titles Across Europe

Imax Corp., DTS and Rakuten TV Oct. 12 announced an expansion of the high-definition movie distributor’s “enhanced” movie collection to include 100 titles on the Rakuten TV VOD platform featuring DTS audio and playable on compatible 4K UHD televisions.

The Imax Enhanced movies will begin appearing on the platform over the next six months.

“Rakuten TV users will soon have the opportunity to take movie nights to new heights with Imax’s exclusive expanded aspect ratio and Imax signature sound by DTS,” Sidharth Jayant, chief product officer for Rakuten, said in a statement.

The Imax Enhanced movie releases will be available across eight European countries, including the U.K., France, Italy, Germany, Spain, the Netherlands, Norway and Poland.

“Enabling a robust slate of additional content on service truly showcases the ways in which we are championing extraordinary experiences for movie watchers,” added Bill Neighbors, chief content officer for Xperi Corp., which owns DTS and co-owns Imax Enhanced.

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FandangoNow Adds Imax Enhanced Titles

FandangoNow, Fandango’s transactional VOD service, is growing its library of Imax Enhanced movies.

The service by Jan. 14 is adding Paramount’s Terminator: Dark Fate, the Russell Crowe-narrated documentary Turtle Odyssey and the Jennifer Lawrence-narrated doc A Beautiful Planet, featuring views from the International Space Station.

FandangoNow is the exclusive U.S. digital retailer for Imax Enhanced titles, working in partnership with DTS.

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In October, FandangoNow launched its Imax Enhanced program, which combines exclusive, digitally remastered 4K HDR content and DTS audio technologies with high-end consumer electronics products. FandangoNow meets Imax Enhanced’s standard for 4K HDR streaming and uses a special variant of the DTS codec technology integrated in home audio equipment to deliver an Imax signature sound experience with more immersive, powerful sound.


Xperi Repositioning DTS Brand, Adding Imaging Tech

On the eve of CES Jan. 7-10, Xperi announced that its FotoNation imaging technology will be offered under the DTS brand along with its audio solutions.

“DTS will now move forward under a single premium brand inclusive of audio, imaging and sensing solutions,” according to an Xperi press release.

“Building upon DTS’s foundation of innovation in audio, our brand repositioning reflects our view that consumers will delight and engage in even more immersive and intuitive ways with their favorite content as we bring more integrated and advanced imaging and sensing technology to optimize content presentation and device playback,” said Kevin Doohan, Xperi’s chief marketing officer. “We are strategically pushing the DTS brand beyond the outstanding sound solutions customers and consumers have always known it to stand for, while integrating FotoNation’s trusted innovative technology and solutions under the redefined DTS brand.”

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At CES, Xperi will demonstrate:

  • Imax Enhanced, the premium home entertainment certification and licensing program from Imax and DTS available on four streaming platforms in seven countries worldwide and 17 device manufacturers;
  • DTS:X TV, a comprehensive immersive audio solution for televisions supporting decode, playback, and transcode of DTS:X bitstreams with full backward compatibility for streaming and disc-based DTS bitstreams;
  • DTS Virtual:X, which creates an immersive home theater experience using only a sound bar, TV speakers, or through speakers connected to an A/V receiver;
  • DTS Play-Fi, which brings wireless audio features such as surround sound, whole-home TV audio streaming, multi-room music, and app-based wireless headphone support to the entertainment hub of every room; and
  • DTS:XPro, an advanced audio decoder solution that brings greater spatial resolution to premium home cinema systems with support for up to 30.2 channels of audio in nearly any practical speaker layout.


FandangoNow Launches Imax Enhanced

FandangoNow, the transactional VOD service from Fandango — in collaboration with Imax Corp. and DTS — Oct. 1 announced the launch of Imax Enhanced on select Sony 4K Android TVs in the United States.

Additional devices will be added in the coming months.

Imax Enhanced combines exclusive, digitally remastered 4K HDR content and DTS audio technologies with the high-end consumer electronics.

Starting Oct. 1, fans can rent Sony Pictures Entertainment’s Spider-Man: Far From Home — featuring 45 minutes of Imax’s exclusive expanded aspect ratio. In addition, Sony Pictures Entertainment’s Jumanji: Welcome to the Jungle and The Angry Birds Movie 2, as well as Paramount Pictures’ Bumblebee, among other blockbuster movies, will be part of FandangoNow’s exclusive line-up of Imax Enhanced titles.

The collaboration with Imax Enhanced will add dozens of new titles to FandangoNow.

FandangoNow meets Imax Enhanced’s standard for 4K HDR streaming and uses a special variant of the DTS codec technology integrated in home audio equipment to deliver an Imax signature sound experience with more immersive, powerful sound, according to the company.

Imax Enhanced is supported by participating studios such as Sony Pictures Home Entertainment and Paramount Pictures, as well as a roster of 15 device partners across televisions, projectors and A/V receivers — all of which have met performance requirements set by Imax, DTS and leading technical specialists throughout Hollywood.

Sony, Paramount to Offer Imax Content in the Home

Sony Pictures Home Entertainment and Paramount Home Media Distribution, among others, in a deal with Rakuten TV, FandangoNow, and Imax, is set to offer Imax content on select smart televisions in the United States, Europe and China.

Imax and DTS have launched a license program enabling third-party consumer electronics manufacturers to offer digitally remastered 4K HDR content with DTS audio in the home.

“We are thrilled to support our collaborators to bring ‘The Imax Experience’ into the home with this new and exciting format,” Pete Wood, SVP/Digital Sales, Sony Pictures Home Entertainment, said in a statement.

Sony Pictures Home Entertainment is offering movies Venom, Spider-Man Homecoming, Jumanji: Welcome to the Jungle and Spider-Man: Far From Home — the latter including 45 minutes of Imax expanded content.

Paramount Home Media Distribution’s Bumblebee will be the studio’s first addition to the expanding collection of Imax Enhanced titles for streaming platforms, followed by Crawl, Pet Sematary (2019), and Rocketman, all of which will include Imax signature sound.

Imax content on Bravia TVs will be offered through the Rakuten TV streaming service this month in U.K., Spain, Germany, France and Italy.

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Bravia models with Imax Enhanced certification are the Master Series ZG9 8K HDR Full Array LED and AG9 4K HDR OLED sets, as well as the XG95 Series 4K HDR Full Array LED TV.

“Today’s announcement continues our efforts to usher in a new level of quality in home entertainment by pairing digitally re-mastered 4K HDR content with breath-taking images and immersive sound as the filmmakers intended for the home,” said Francisco Navarro-Sertich, SVP/Strategy at Imax Corp.

Separately, Sony Pictures Home Entertainment also will release a series of new titles on Imax Enhanced physical 4K Ultra HD disc, beginning with The Angry Birds Movie 2.

This is in addition to Imax Entertainment’s release of Space Station on Imax Enhanced UHD Blu-ray in July, which is available for purchase through Amazon and other major retailers.


DEG’s New ‘4 Cups of Coffee’ Mentoring Program

DEG: The Digital Entertainment Group on June 5 kicked off a new mentoring program, “4 Cups of Coffee,” at the “Cocktails & Coffee” event at Sony  Studios in the Norman Lear Commissary. Under the program, the DEG’s Canon Club will match women in search of mentors with one of its advisors or other women executives for 30-minute career conversations, either in person or over the phone, up to four times per year. The Canon Club was established by DEG to provide women at all levels and in all sectors of digital media the opportunity to share knowledge and build their business networks. Last month, the DEG announced the appointment of 10 advisory board members to provide input on Canon Club event programming, rotate as host at speaker-driven salons and social/networking events, serve as founding mentors in the “4 Cups of Coffee” program, and judge the annual Hedy Lamarr Awards for Women in Entertainment and Technology, among other responsibilities. The advisory board is led by chair Robin Tarufelli of Deloitte, and vice chair Meri Hassouni of Giant Interactive. Other members are Loren Nielsen, DTS; Sofia Chang, HBO; Dametra Johnson-Marletti, Microsoft; Karin Gilford, Movies Anywhere; Andrea Downing, PBS Distribution; Cheryl Goodman, Sony Electronics; Nadia Haney, Universal Pictures Home Entertainment; and Darcy Antonellis, Vubiquity. Other Canon Club mentors include Beth Kearns, 20th Century Fox; Heathyr Jozel-Garcia, ABC Studios; Samara Winterfeld, DTS; Ken Williams, ETC@USC; Kejo Swingler, HBO; and Rachel Crang, Paramount Pictures.

Imax and DTS Form Home Entertainment Partnership

Imax Corp. and DTS, a wholly owned subsidiary of Xperi Corp., have announced a new home entertainment partnership with the launch of the Imax Enhanced program.

The new certification and licensing program combines the high-end consumer electronics products with Imax digitally re-mastered 4K HDR content and DTS audio technologies to offer consumers a new level of quality in immersive sight and sound experiences for the home, according to a press release from Xperi.

The companies also announced that a number of global consumer electronics and entertainment market leaders have joined the program as launch partners, including Sony Electronics, Sony Pictures, Paramount Pictures, and Sound United – parent company to Denon and Marantz.

To be accepted into the program, which launches this fall, consumer electronics manufacturers must design top-of-the-line 4K HDR televisions, A/V receivers, sound systems and other home theater equipment to meet a carefully prescribed set of the highest audio and video performance standards, set by a certification committee of Imax and DTS engineers and Hollywood’s leading technical specialists, according to the release.

Imax and DTS developed the program “to make it easier for consumers to select the products and content that will deliver the highest-quality, sharpest 4K HDR images and powerful, immersive sound at home,” according to the release.

“The companies are designing an Imax Mode for the enhanced devices that will be meticulously optimized to play digitally re-mastered content as the filmmaker intended in the home,” the release stated.

Consumers can access content from Hollywood studios as well as select Imax documentaries through the Imax Home Entertainment division. The company will also work with its global studio and other content partners to make available enhanced versions of blockbuster movies and additional programming, according to the release.

“While the Imax theatrical experience continues to be the gold standard in blockbuster movie-going, today we are launching an exciting new program that applies components of Imax’s and DTS’ technology and expertise to deliver consumers a level of quality never before experienced at home,” said Imax CEO Richard L. Gelfond in a statement. “This is a natural extension of our core business in experiential entertainment. By partnering with a well-established consumer electronics licensing leader, we can leverage both our brand and key technology innovations through DTS’ global licensing platform, without having to make the direct investments often necessary to build a new revenue stream. DTS will build that new business and we will share in the benefits from the program. We’re encouraged by the strong interest from our launch partner companies and look forward to working with DTS to grow the program further over time.”

“DTS has a rich history in delivering premium entertainment experiences to the theater and at home, and the Imax Enhanced program is an exciting opportunity to stay at the forefront of home entertainment,” said Xperi CEO Jon Kirchner in a statement. “Through the combined engineering and licensing efforts of the DTS and Imax teams, as well as support from a number of the world’s leading device and content partners, the Imax Enhanced program will bring a completely new, enhanced experience to the home while also supporting the continued penetration of DTS decoders, bringing premium sound to consumers’ devices.”

The program will use a proprietary post-production process developed by Imax to digitally re-master content to produce more vibrant colors, greater contrast and sharper clarity, according to the release. The companies will also partner with Hollywood sound mixers to use a special variant of the DTS:X codec technology integrated in home audio equipment to deliver an Imax signature sound experience.