Bloomberg Joins the Alliance for Open Media
WAKEFIELD, Mass. – November 13, 2024 – Alliance for Open Media (AOMedia) today announced that Bloomberg has joined the Alliance. As a member of AOMedia, Bloomberg will collaborate with other leading internet and media technology member companies to advance open standards for media compression and delivery over the web.
AOMedia and its members are fully committed to maintaining a thriving, competitive and open internet, which enables innovation and the launch of new products and services and continues to reduce prices for consumers.
As an ‘open source first’ company, Bloomberg is an active adopter and contributor to open source and a strong advocate for open standards, which help accelerate the company’s product innovation. Joining AOMedia will allow the company to influence, evaluate, and adopt the next generation of audio and video standards in Real Time Communication and beyond.
"Bloomberg is committed to building high quality, dependable, secure, and compliant real-time communication solutions for the global financial community," said Dhananjay Deshpande, Head of Bloomberg's Real-Time Communication Engineering group. "We look forward to collaborating with AOMedia in adopting and shaping the next generation of royalty-free audio and video codecs in order to both enhance end-users' experience and to optimize costs."
As AV1-enabled video becomes increasingly integral to daily life—whether through streaming services, virtual classrooms, mobile video apps, or chat platforms—AV1 continues to deliver high-quality video while reducing streaming and storage costs. Competing in a dynamic market for video codecs, AV1 offers consumers more choices and lowers costs and entry barriers for implementers, including start-ups.
"We’re excited to welcome Bloomberg to AOMedia, reflecting our joint commitment to improve open media in new and cutting-edge ways,” said Matt Frost, AOMedia Chair. "We look forward to collaborating with Bloomberg in our goal to develop open web media experiences and accelerate the delivery of open web media standards."
About Bloomberg
Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration. For more information, visit Bloomberg.com/company or request a demo.
About the Alliance for Open Media
Launched in 2015, the Alliance for Open Media (AOMedia) was formed to define and develop technologies to address marketplace demand for open standards for media compression and delivery spanning video, audio, still images, and immersive technologies. Board-level members include Amazon, Apple, Cisco, Google, Intel, Meta, Microsoft, Mozilla, Netflix, NVIDIA, Samsung Electronics and Tencent. AOMedia’s open-source codec AV1 is a significant milestone in the ability to deliver a next-generation video format that is interoperable, open, optimized for internet delivery and scalable to any modern device at any bandwidth. Visit www.aomedia.org.
Press contacts:
Chaim Haas
Bloomberg
chaas30@bloomberg.net
212.617.7025
Jessie Hennion
AOMedia Public Relations
jhennion@virtualinc.com
781.876.6280
Melissa Bednar
AOMedia Public Relations
mbednar@virtualinc.com
781.876.8962