MulticoreWare Inc.’s VVC Consortium Gains MomentumApril 23, 2022
SAN JOSE, Calif. April 23, 2022–(BUSINESS WIRE)–MulticoreWare has been leading the x266 open-source encoder project in the past year and made significant improvements. The H.266/VVC standard promises to significantly reduce the storage and distribution costs by half over HEVC by leveraging several video encoding technologies at the same quality or 2X quality improvement at the same bit rate.
One of the key partners in the VVC Consortium is Bitmovin Inc. The x266 open-source encoder development is part-funded by Bitmovin Inc. Talking about the x266 open-source encoder initiative, Reinhard Grandl, VP of Product at Bitmovin said, “Bitmovin fervently believes in open-source development to fast-track innovation through collaboration – exemplified in our product suite. We’re ardent supporters of the VVC Consortium and its commitment to taking an open-source approach to improving video encoding technologies. We’re particularly excited about the progress in VVC’s encoding efficiencies, which highlights its potential as a next-generation codec.” Bitmovin Inc. has been a supporter of our open-source initiatives and has been helpful in prioritizing the development roadmap.
Dr. Ajay Luthra, CEO of Picsel Labs, commented, “Formal subjective viewing tests done by MPEG showed that VVC provides significant improvements in the coding efficiency over HEVC. With increasing popularity of 4kTV and IP streaming-based video distribution over wired as well as wireless networks, the need for more efficient video coding systems is also increasing. VVC is well positioned to fill that need.”
“We are glad to announce the key partners of VVC Consortium with Major Tier-1 companies and we believe VVC will be widely adopted,” said Arun Ramanathan, VP and GM for Media and AI Analytics at MulticoreWare. “The members are a vital part of our x266 development phase & strategy. We are looking for a few more strategic partners.”