Your digest of the week’s top media, entertainment and technology news.
Alliance for Open Media releases AV1
The Alliance for Open Media (AOMedia) has released the version 1 of AV1, a next-gen, royalty-free codec that claims to have a 30% bit-rate efficiency over technologies such as VP9 and HEVC, according to TVB Europe.
AMC to float Odeon cinemas?
AMC is working with financial services firm Citi on an initial public offering of Britain’s Odeon cinemas group, according to Reuters. Citing ”sources familiar with the matter”, the flotation could value the chain at more than $2 billion.
Endeavor acquires streaming firm NeuLion
Endeavor has acquired streaming technology firm NeuLion for $250m. Variety reported that NeuLion has worked with Endeavor before, “having streamed the ballyhooed bout between boxer Floyd Mayweather and UFC champion Conor McGregor last year”.
£100m UK studio gets go-ahead
A new studio complex in Dagenham, east London, has been given the go-ahead. Broadcast reported that £100m set aside to create a studios and entertainment complex covering 22-acres, including 12 sound stages, a major events centre, VR and 3D attractions and retail and dining outlets. It will be built and operated by US-based Pacifica Ventures in partnership with Media Content Capital (MCC).
Youth are tuned into Netflix, says BBC
Young people aged 16-24 are watching more content on Netflix than all BBC channels - including iPlayer - combined, according to the broadcaster. In its annnual plan, the BBC said that “as the trend shifts towards on-demand viewing, the BBC risks being overtaken by competitors,” reported the Guardian.