BASKING RIDGE, NJ and SAN DIEGO — PacketVideo, long recognized as an innovator in mobile multimedia software, today announced it was honored with a 2007 CES Innovation Award for its work on Verizon Wireless' V CAST Music service, the world's most comprehensive mobile music service with a library of more than 1.4 million songs available for download, The award was given by the Consumer Electronics Association (CEA) and the 2007 International Consumer Electronics Show (CES) to honor outstanding design and engineering excellence. PacketVideo's award was received in the Enabling Technologies category for the software "engine" behind V CAST Music launched by Verizon Wireless last year.
U.S. Mobile Music Market to Reach Over $1 Billion PacketVideo's pvPlayerTM software enabled the first and still the most comprehensive music-on-demand service in the U.S. with over-the-air downloads and PC sideloads of full music tracks using the established Microsoft Windows® Media Digital Rights Management system. The pvPlayer also runs the V CAST Music online store, allowing users to browse for music, search by artist or genre, and purchase full tracks on-the-go. Songs purchased through the V CAST Music online store cost 99 cents, the same as other leading online music stores.
According to a July 2006 report by Price Waterhouse Coopers, the mobile music market in the U.S. is expected to reach $1.4 billion by 2010, representing an annual compound growth rate of 27 percent. PacketVideo is helping Verizon Wireless seize its share of this growing market with an embedded music player that will further enhance the audio quality for customers.
Audio Quality, Efficient Power Use and Speedy File TransferPacketVideo was the first in the industry to integrate into a mobile phone Microsoft's Windows Media Audio Professional Enhanced Low Bit Rate audio codec for truly superior audio quality. The lower bit rate also means that its file transfer speed is fast and efficient, making economical use of the end-user's precious mobile minutes and storage capacity.
"At Verizon Wireless, we are strongly committed to providing the ultimate mobile music experience for our customers," said Jim Straight, vice president of wireless Internet and multimedia for Verizon Wireless. "We worked with PacketVideo on V CAST Music because their pvPlayer powers a technologically advanced, premier music service that has built a loyal customer base for Verizon Wireless."
"Allowing end-users to combine a mobile phone with a full-function music store and music player into one device set the standard for other services to come later," said PacketVideo CEO James C. Brailean, Ph.D. "The performance provided by the PacketVideo pvPlayer for V CAST Music established a high bar for a quality, high-fidelity user experience."
Samples of PacketVideo's pvPlayer for V CAST Music will be on display at CES, held in Las Vegas Jan. 8 11, 2007.
About PacketVideo PacketVideo is the market innovator of multimedia software for the mobile industry, providing embedded multimedia entertainment and communications software for mobile phones and other devices. To date, PacketVideo has achieved 130 design wins for PacketVideo powered handsets. The company's software enables mobile phone users to watch TV, play digital music and videos, take digital pictures, record home movies, and make two-way videophone calls. PacketVideo was founded in 1998 and is headquartered in San Diego, California and operates offices in Chicago, Illinois, Charlotte, North Carolina, as well as Tokyo, Japan, Nice, France, Berlin, Germany, and Tampere, Finland. For more information, visit www.pv.com.
About Verizon Wireless Verizon Wireless operates the nation's most reliable wireless voice and data network, serving 57 million customers. The largest US wireless company and largest wireless data provider, based on revenues, Verizon Wireless is headquartered in Basking Ridge, NJ, with 60,000 employees nationwide. The company is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To preview and request broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.####