Adeia Announces Extended IP Agreement with Frndly TV

Rhea-AI Summary

Adeia Inc. (Nasdaq: ADEA) announced a long-term renewal agreement with Frndly TV, a leading low-cost live TV provider in the U.S. This licensing deal reinforces Adeia's strong position in the Pay-TV streaming sector, highlighting the relevance of its media patent portfolio. Frndly TV, now among the top 10 vMVPDs, offers over 40 live TV channels starting at $6.99/month. Dr. Mark Kokes emphasized that this partnership will enhance entertainment discovery experiences for Frndly TV’s customers, showcasing Adeia’s continuous innovation in the industry.

Positive

• Long-term renewal licensing agreement with Frndly TV indicates confidence in Adeia's media patent portfolio.
• Partnership supports Frndly TV’s growth as one of the fastest growing Pay-TV streaming services in the U.S.
• Adeia's technology enhances customer experience in live TV and OTT streaming.

Negative

• None.

Long-Term agreement demonstrates Adeia’s applicability to Pay-TV Streaming Services

SAN JOSE, Calif., Nov. 08, 2022 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) (“Adeia” or the “Company”), the company whose innovations shape the way the world explores and experiences entertainment, today announced that Frndly TV, the most affordable live TV provider for the whole family, has entered into a long-term renewal to license Adeia’s Media patent portfolio.

As one of the fastest growing Pay-TV streaming services in the U.S., Frndly TV offers consumer friendly, live TV programming over-the-top (OTT) and has become one of the top 10 largest virtual Multichannel Video Programming Distributors (vMVPDs).

“Our long-term patent license with Frndly TV emphasizes the longevity of Adeia’s intellectual property and its continued importance to live TV as it expands into OTT streaming services,” said Dr. Mark Kokes, chief licensing officer and general manager of Adeia’s media business. “With Adeia’s innovations, Frndly TV will continue to deliver captivating entertainment discovery experiences to its customers.”

Adeia has spent decades investing in research and development to create market-leading technologies for the media and entertainment industry. Adeia’s innovative solutions touch practically every aspect of consumers’ day-to-day interaction with their entertainment, enabling Adeia’s customers to build customized, next-generation digital entertainment solutions for users around the globe.

About Frndly TV

Frndly TV is the most affordable live TV streaming service in America. Starting at only $6.99/mo., Frndly TV offers 40+ top-rated live TV networks including A+E®, Hallmark Channel, The History Channel™, INSP, Lifetime®, Hallmark Movie & Mysteries, Game Show Network, GAC Family, The Weather Channel and more. Customers can also access a wide range of on-demand content, including full libraries from Dove Channel and Curiosity Stream, at no extra cost. Frndly TV delivers feel good programming at a family friendly price. For more information, visit www.frndlytv.com.

About Adeia
Adeia invents, develops and licenses fundamental innovations that shape the way millions of people explore and experience entertainment in an increasingly connected world. From TVs to smartphones, and across all types of entertainment experiences, Adeia’s technologies allow users to manage content and connections in a way that is smart, immersive and personal. For more information, please visit adeia.com.

For Information Contact:
Jill Koval and Idalia Rodriguez
Arbor Advisory Group
IR@adeia.com

FAQ

What is the significance of Adeia's agreement with Frndly TV?

The agreement solidifies Adeia's position in the media industry and allows Frndly TV to utilize Adeia's innovative patents, enhancing their service offerings.

How does the licensing agreement affect Adeia’s business outlook?

The long-term agreement is expected to provide revenue stability and reinforce the value of Adeia's intellectual property in the growing streaming market.

When was the agreement between Adeia and Frndly TV announced?

The agreement was announced on November 8, 2022.

What is Frndly TV and how does it relate to Adeia?

Frndly TV is a low-cost live TV provider that has entered into a long-term licensing agreement with Adeia to utilize its media patent portfolio.

What are Frndly TV's subscription rates?

Frndly TV starts at $6.99 per month and offers over 40 live TV networks.