SAN JOSE, Calif., June 01, 2023 (GLOBE NEWSWIRE) -- Adeia Inc. (Nasdaq: ADEA), the company whose patented innovations shape the way the world explores and experiences entertainment, today announced that Bandai Namco Filmworks, a global leader in the creation and distribution of VOD (video on demand) animé content, has renewed its licensing agreement for Adeia's media intellectual property (IP) portfolio.
Bandai Namco Filmworks is a storied creator of animated videos that are extremely popular in Japan and globally. With over 2,500 series, Bandai Namco Filmworks holds a robust market position in the Japanese SVOD (subscription video on demand) market with properties that include Gundam, LoveLive!, That Time I Got Reincarnated as a Slime, BLUELOCK, and CODE GEASS, to name just a few of its blockbuster titles.
Japanese OTT (over-the-top) video segment revenues are projected to reach US $9.75 billion in 2023 with a user penetration rate that will grow from 67.5% in 2023 to 76.8% by 2027, according to the latest research from Statista. The Japanese paid streaming video market, with a 19% churn rate according to Statista, is highly competitive and features a sophisticated subscriber base that demands high-quality content and seamless user experiences.
"This agreement supports Bandai Namco Filmworks' ability to serve its subscriber base with new animé titles and an immense library of animé content. Adeia's IP underpins Bandai Namco Filmworks' efforts to deliver tailored user experiences by providing advanced content search, personalized recommendations and analytical features to elevate customer engagement," said Dr. Mark Kokes, Adeia's chief licensing officer and general manager of media.
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.
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.
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