Adeia Inc. announced that Samsung Electronics Co. Ltd., a global leader in the electronics industry, entered into a long-term agreement at the end of last year, renewing its license to Adeia's media intellectual property (IP) portfolio for Samsung's Smart TVs and related offerings. The past year has seen a significant shift in digital content consumption behaviors as consumers reevaluate their entertainment budgets.

This has prompted a considerable rise in the popularity of AVOD (advertising-based video on demand) and FAST (free ad-supported TV) streaming services. The trend has accelerated with the rapid growth of the connected TV (CTV) market. As a result, new relationships are being forged among advertisers, network operators, streaming providers and consumer electronics manufacturers, which have the potential to change the economics of the industry.

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.