Xperi is building more support for its IMAX Enhanced standard, which builds 4K HDR and DTS audio support into content for consumer electronics and streaming platforms.
Now, the company—which also owns TiVo—claims it has a “major streaming content service” on board with the technology. During Xperi’s earnings call this week, CEO Jon Kirchner declined to offer many specific details about the launch except that it will, at least initially, focus on streaming customers in North America.
Xperi also said that it has reached an agreement with Xiaomi to add IMAX Enhanced support to the company’s TVs, and that during the quarter it updated its IMAX Enhanced encoding tools for content owners.
Xperi has already secured IMAX Enhanced support from TV manufacturers including Sony, TCL and Hisense, and digital retailers including FandangoNow and Rakuten TV. Technology partners include Sony Pictures Entertainment and Paramount Pictures.
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IMAX Enhanced uses proprietary Digital Media Remastering technology developed by IMAX to reduce noise and grain for optimizing 4K HDR content. The standard also provides exclusive expanded aspect ratio for some titles that were shot on IMAX cameras or formatted for IMAX theaters. IMAX and DTS first launched the IMAX Enhanced certification and licensing program in 2018.
Xperi/TiVo reported first-quarter revenue totaling about $221 million, which was almost entirely accounted for by the company’s licensing, services software division. The hardware business brought in just $3.2 million during the quarter. Net income totaled approximately $4.5 million.
“Revenue for the first quarter was in line with our expectations, marking a strong start for the year and placing us on track to realize our full year financial outlook,” said Kirchner in a statement. “Importantly, we made material progress on each of our strategic initiatives in our IP and product segments, and we expect continued strong execution throughout the balance of the year.”