Adeia Renews IP License Agreement with Altice USA

Rhea-AI Summary

Adeia Inc. (Nasdaq: ADEA) announced an early renewal agreement with Altice USA to extend their license for Adeia's media intellectual property (IP) portfolio. This renewal supports Altice's Optimum services, enhancing customer satisfaction through improved content discovery and navigation. Adeia emphasizes its role as an innovation leader in the media and entertainment sector, continuously investing in R&D to advance user experiences. Altice, serving nearly five million customers, benefits from this partnership by enhancing its service offerings in a competitive pay-TV market.

Positive

• Early renewal of licensing agreement with Altice strengthens Adeia's revenue stream.
• The partnership supports advancements in content discovery and customer experience.

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• None.

SAN JOSE, Calif., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA) ("Adeia" or the "Company"), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Altice USA (“Altice”), a leading provider of broadband, video, mobile, proprietary content and advertising services, signed an early renewal agreement extending their license to Adeia's media intellectual property (IP) portfolio, which supports Altice’s Optimum services, including their cable TV and over-the-top (OTT) streaming services.

“We are pleased to announce this early renewal, which extends our long term relationship with Altice. The US pay-TV market is among the most competitive environments in the world. Leaders in this segment, including Altice, are leveraging innovations that improve digital entertainment experiences to help consumers quickly, easily and intuitively find the content and services they want to enjoy,” said Paul E. Davis, chief executive officer of Adeia.

With nearly five million residential and business customers across 21 states, including the New York City tri-state area, Altice is one of the largest broadband communications and video service providers in the United States.

“We are pleased to extend our long-term partnership with Adeia in support of Altice’s Optimum services,” said Yossi Benchetrit, chief procurement and programming officer at Altice.

This agreement supports the latest generation of video service technologies and it ensures that Altice meets the high expectations of its customers for content quality and intuitive navigation.

“Adeia’s media IP portfolio offers pay-TV providers the opportunity to deliver consumers a truly personalized media experience by continuously advancing innovations that enhance the customer experience, including improvements for content discovery, search and recommendations, among many others,” said Davis.

As an innovation incubator, Adeia has spent decades investing in advanced 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 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.

About Altice

Altice USA (NYSE: ATUS) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to nearly 5.0 million residential and business customers across 21 states through its Optimum brand. The Company operates a4, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local, national, international and business news through its News 12, Cheddar News and i24NEWS networks

For Information Contact:
Investor Relations
Idalia Rodriguez and Ned Mitchell
Arbor Advisory Group
IR@adeia.com

Marketing
Stephanie Stocker
marketing@adeia.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/0e6a505f-6c67-43d2-b7fd-1c0013ce134d

FAQ

What is the significance of Adeia's agreement with Altice USA?

The agreement extends Adeia's licensing of media IP to Altice USA, enhancing services for nearly five million customers.

How does the early renewal agreement impact Adeia's business?

It secures a continued revenue stream and strengthens Adeia's market position in the media and entertainment industry.

When was the agreement between Adeia and Altice USA announced?

The agreement was announced on February 21, 2023.

What does the partnership with Altice entail for Adeia?

The partnership focuses on improving content quality and user navigation for Altice's Optimum services.