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LG Electronics Renews License Agreement with NeuLion for Integration of NeuLion CE SDK for 4K Live Streaming(July 11, 2017)
PLAINVIEW, N.Y., July 11, 2017 (GLOBE NEWSWIRE) -- NeuLion, Inc. (TSX:NLN), a leading technology product and service provider that specializes in the digital video broadcasting, distribution and monetization of live and on-demand content to connected devices, today announced that it has renewed the license agreement with LG Electronics to integrate the NeuLion CE SDK for Ultra HD connected devices to live stream sports and entertainment content delivered by the NeuLion Digital Platform. In addition, LG has renewed its license for DivX video support across multiple LG CE product lines.
"LG is at the leading edge of adopting new technologies, and we're pleased that this premium TV brand has chosen to license our NeuLion CE SDK for 4K streaming," commented NeuLion CEO Roy Reichbach. “We continue to see accelerating momentum with our customers to deliver the best viewing experience with 4K being very important. Building on that momentum, we’re excited to bring a variety of 4K live streaming sports and entertainment services with an excellent user experience to LG.”
The license renewal between LG and NeuLion reinforces the growing consumer demand for 4K devices and content. According to IHS, the number of households with a 4K TV will grow to 346 million in 2020, up from 28 million in 2015. Research firm Juniper Research says adoption of 4K OTT services will rise notably in the next 5 years (Juniper: 189 Million to use 4K OTT services by 2021 (http://www.todotvnews.com/news/Juniper-189-Million-to-use-4K-OTT-services-by-2021.html)).
NeuLion is leading the way in 4K OTT live sports events. Together with the UFC, NeuLion was the very first to deliver a live, over-the-top, pay-per-view sporting event in 4K. With NeuLion’s 4K streaming technology the experience and video quality for consumers is incredible at 4K/UHD resolution and 60 frames per second (fps). The NeuLion Digital Platform includes secure player technology and multi-DRM support to enable robust protection, ease and scale of integration and flexible use-cases. The advanced media playback feature set includes slow motion, instant-replay, multi-language subtitles, multiple audio tracks, multi-CDN switching, and smooth fast forward. Along with the advanced feature set, NeuLion operates a certification testing process that ensures fast TV App load time and high quality live playback experience.
The NeuLion Digital Platform is an end-to-end platform facilitating the streaming of high-quality content up to 4K, for premium sports and entertainment brand worldwide including the NFL, NBA, UFC, WSL, Univision Deportes, and others.
NeuLion, Inc. (TSX:NLN) offers solutions that power the highest quality digital experiences for live and on-demand content in up to 4K on any device. Through its end-to-end technology platform, NeuLion enables digital video management, distribution and monetization for content owners worldwide, including the NFL, NBA, World Surf League, Univision Deportes, Euroleague Basketball and others. NeuLion powers the entire video ecosystem for content owners and rights holders, consumer electronic companies, and third party video integrators through its MainConcept business. NeuLion’s robust consumer electronics licensing business enables its customers like LG, Sony, Samsung and others to stream secure, high-quality video seamlessly across their consumer devices. NeuLion is headquartered in Plainview, NY. For more information about NeuLion, visit www.NeuLion.com.
Certain statements herein are forward-looking statements and represent NeuLion’s current intentions in respect of future activities. Forward-looking statements can be identified by the use of the words “will,” “expect,” “seek,” “anticipate,” “believe,” “plan,” “estimate,” “expect,” and “intend,” statements that an event or result “may,” “will,” “can,” “should,” “could,” or “might” occur or be achieved, and other similar expressions. These statements, in addressing future events and conditions, involve inherent risks and uncertainties. Although the forward-looking statements contained in this release are based upon what management believes to be reasonable assumptions, NeuLion cannot assure readers that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this release and NeuLion assumes no obligation to update or revise them to reflect new events or circumstances, except as required by law. Many factors could cause NeuLion’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including: our ability to realize some or all of the anticipated benefits of our partnerships; general economic and market segment conditions; our customers’ subscriber levels and financial health; our ability to pursue and consummate acquisitions in a timely manner; our continued relationships with our customers; our ability to negotiate favorable terms for contract renewals; competitor activity; product capability and acceptance rates; technology changes; regulatory changes; foreign exchange risk; interest rate risk; and credit risk. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. A more detailed assessment of the risks that could cause actual results to materially differ from current expectations is contained in the “Risk Factors” section of NeuLion’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016, which is available on www.sec.gov and filed on www.sedar.com.
A chart accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ec3e11bf-c269-4e76-a8aa-53f8cec7f230
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