Dolby Buys Millicast; Stock Down Amid Pandemic Uncertainties
Dolby bought Millicast, a startup that provides scalable low-latency video streaming, for customers to create virtual environments. There's "growing demand to make online events as lifelike and compelling as being there in person," said Marie Huwe, senior vice president-Dolby.io. Dolby…
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now can enable global customers to build “virtualized, massive audience experiences that feel almost as if you were there,” said Millicast CEO Alexandrine Platonoff. The NFL, NBC and Disney use Millicast. Also Thursday, Dolby reported revenue in the past quarter fell to $351.6 million from $389.9 million in the year-ago period. For this quarter, Dolby projects a revenue range of $315 million-$345 million, citing uncertainties associated with the COVID-19 pandemic. Friday, shares closed down 11% at $75.85.