Seoul,  Korea, 21 October, 2016 – Chips&Media, Inc. a leading video codec IP provider today announced that it has joined the Alliance for Open Media. The Alliance for Open Media is a non-profit organization working to define and develop media technologies that address the need for an open standard for video compression and delivery over the web.

As a member of the Alliance, Chips&Media will collaborate with industry leaders in pursuit of an open and royalty-free AOMedia Video codec, AV1. Over the past decade, Chips&Media has been providing SoC makers with best-in-class video solutions based on advanced technology expertise and global experience as a leader of video IP industry. Chips&Media’s large market share and business strategies will contribute greatly to the expansion of the new video standard AV1. The Alliance has made its AV1 codec source code publicly available as an open source project, and the group welcomes contributions from the broader developer community.

“We are very pleased to participate in AOMedia. It is now obvious that AV1 will be one of the major next-generation video standards in the future, especially for internet application and UHD content market. We expect AV1 to add more value through collaboration with Chips&Media\'s IP solution. We also hope this can positively affect our future IP business. It is our goal to come out with the world’s first hardware implementation of AV1, so we will actively participate in the open video codec development.” Said Steve Kim, CEO of Chips&Media.

The availability of AOMedia Video as an open source project is an important element in fulfilling the organization’s promise to deliver a next-generation video format that is:

• Interoperable and open;
• Optimized for internet delivery;
• Scalable to any modern device at any bandwidth;
• Designed with a low computational footprint and optimized for hardware;
• Capable of consistent, highest-quality, real-time video delivery; and
• Flexible for both commercial and non-commercial content, including user-generated content.

\"We’re pleased to welcome Chips&Media to the Alliance for Open Media, reflecting the importance of hardware video solutions which enable SoC platforms to achieve broad industry adoption,\" said Gabe Frost, Executive Director, the Alliance for Open Media. \"We look forward to contributions from Chips&Media to this significant initiative, which will open the door to a new era of openness and interoperability for internet video.\"

About the Alliance for Open Media

The Alliance for Open Media is a project of the Joint Development Foundation, an independent non-profit organization that provides the corporate and legal infrastructure to enable groups to establish and operate standards and source code development collaborations. Launched in 2015, the Alliance for Open Media was formed to define and develop media technologies to address marketplace demand for an open standard for video compression and delivery over the web.