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V-Nova's technology is a new digital data-encoding technology based on multi-layer coding, parallel processing, and deep learning called Perseus for efficient video streaming with a focus on enabling UHD/4K services at lower bandwidths.

V-Nova's technology was later selected to provide the essential IP for the ISO/IEC 23094-2 standard MPEG-5 Part 2 Low Complexity Enhancement Video Coding (LCEVC), a codec-agnostic enhancement codec that can be combined with other video codecs to improve their coding and processing efficiency.

The MPEG site defines LCEVC as “a data stream structure defined by two-component streams, a base stream decodable by a hardware decoder, and an enhancement stream suitable for software processing implementation with sustainable power consumption. The enhancement stream will provide new features such as compression capability extension to existing codecs, lower encoding, and decoding complexity, for on-demand and live streaming applications.”

V-Nova LCEVC – including both IP Rights and software products – is available for entertainment video services with two types of licensing. The Integration License is free and enables device or chipset manufacturers, operating systems, browsers, in-house development, and encoder/player vendors to rapidly integrate V-Nova LCEVC encoding and decoding libraries.

The Usage License meanwhile is priced based on service size, measured via the total number of users. The company said that, above a lower free threshold, the cost per user is calculated according to volume and capped at US$3.7 million per year.