WILMINGTON, Del. – InterDigital , Inc. (NASDAQ:), a mobile and video technology research firm, and Broadpeak (Euronext Growth:ALBPK), a provider of video streaming solutions, have announced their collaboration to enhance content delivery networks for streaming immersive volumetric video content. Their joint effort focuses on developing networks that can efficiently distribute this high-bandwidth content using the MPEG Visual Volumetric Video-based Coding (V3C) standard.
Volumetric video captures scenes in 3D, offering viewers an immersive experience. The MPEG V3C standard is crucial for coding this type of content, which typically requires significant bandwidth. InterDigital brings to the partnership its V3C end-to-end implementation platform, created with Philips, while Broadpeak contributes its expertise in packaging and CDN technologies.
The collaboration aims to enable video service providers to offer new, differentiated experiences to customers, potentially increasing average revenue per user and reducing churn. The partners will showcase their progress in streaming volumetric video content to broad audiences using commercially available devices at the upcoming Mobile World Congress in Barcelona, from February 26 to 29.
InterDigital, with a history dating back to 1972, has been a pioneer in wireless, video, and AI technologies, licensing its innovations globally. Broadpeak is known for its video delivery components that enable content delivery over various networks for a range of devices.
The information reported is based on a press release statement from InterDigital, Inc. and Broadpeak.
In light of InterDigital, Inc.’s (NASDAQ:IDCC) latest collaboration with Broadpeak to revolutionize content delivery networks, it’s worth noting the company’s strong financial health and market performance. An InvestingPro Tip highlights that InterDigital holds more cash than debt on its balance sheet, suggesting a robust financial position that could support its innovative endeavors in enhancing video streaming technologies.
From a market perspective, another InvestingPro Tip points out that InterDigital’s stock has shown a high return over the last three months, indicating positive investor sentiment which may reflect confidence in the company’s strategic partnerships and growth initiatives.
InvestingPro Data also reveals compelling metrics: InterDigital boasts an impressive Gross Profit Margin of 85.8% for the last twelve months as of Q3 2023, underscoring the company’s efficiency in managing its production costs and maintaining profitability. Additionally, the company’s Revenue Growth over the same period is 23.99%, a testament to its expanding operations and market reach in the tech industry.
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