Dolby Seeking to Ride IPhone 12's Dolby Vision Embrace, Says CEO
Apple’s “embracing the ability” to capture, share and edit content in Dolby Vision on iPhone 12 models shows how “the Dolby experience can apply far beyond even those more traditional forms of content,” said Dolby CEO Kevin Yeaman on a…
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Thursday investor call. Dolby Vision continues to be a growth area for the company, said the executive, estimating the HDR technology is in 15%-20% of 4K TVs. In the last fiscal year, 4K models were just over 50% of the TV market for Dolby, he said. The company is winding down and exiting conferencing hardware sales, said Yeaman. It's focusing now on Dolby Voice through software on the Dolby.io platform, which is designed to give developers the tools they need to enhance content with high-quality sound with a minimal amount of code. The company is seeing growing engagement with Dolby.io from developers in a range of uses, including podcasts, media production, online marketplace videos, online education, social media and livestreaming applications, he said. Dolby’s fiscal Q4 revenue fell 9% year on year to $271 million, and year-on-year revenue dropped 6% to $1.2 billion, mostly due to COVID-19, said Chief Financial Officer Lewis Chew. The company beat the high end of guidance for the quarter, $255 million. Quarterly revenue improved by $24 million vs. Q3 on higher unit volumes in TVs, set-top boxes, digital media adapters and PCs, he said. Overall licensing revenue growth slipped 3% for the quarter and year. Despite continued headwinds in its cinema-related business, Dolby “significantly exceeded Q4 expectations,” Colliers analyst Steven Frankel wrote investors Friday, saying “the best is yet to come” as the business benefits from 4K TVs and set-top boxes, new gaming platform launches and growth of the Dolby.io platform. Shares closed 7% higher Friday at $87.20.