-- Includes innovative Multi-Codec Bridging Agreement that Provides Substantial Royalty Savings to Licensees in both the VVC and HEVC Advance Pools Building on the success of its HEVC Advance Patent Pool, Access Advance today announced the launch of the VVC Advance Patent Pool and the Multi-Codec Bridging Agreement ("MCBA"). VVC is the next generation video codec standard finalized less than one year ago, which provides significant improvements in video compression of up to 50% over HEVC, enabling a new generation of products, ever more beautiful video, faster downloads, and improved savings on storage. The license structure of the new VVC Advance Pool mirrors that of the HEVC Advance Platform Pool License recently announced, with royalty rates and caps set at a modest 25% increase over the equivalent HEVC Advance License structure. Please see https://www.accessadvance.com/vvc-advance-patent-pool-royalty-rates-summary Importantly, as requested by the marketplace, Licensees that have executed both the HEVC Advance and VVC Advance Platform Licenses will have the option to enjoy the benefits of the MCBA. The MCBA is not a third license; it is an agreement that bridges the HEVC Advance and VVC Advance Platform Licenses. Those Licensees who have executed all three agreements will enjoy a discounted royalty rate for their products that include both VVC and HEVC, paying the same royalty rate as they would pay for a product that includes only VVC, providing an effective 45% discount. According to Pete Moller, CEO of Access Advance, "The launch of the VVC Advance Patent Pool and the MCBA, following our recent announcement of the HEVC Advance Platform License, brings to fruition our Video Codec Platform Initiative that can seamlessly incorporate multiple video codecs into a single consolidated royalty rate structure with simplified reporting and payment obligations for Licensees. This innovation responds to the market's desire for an even more efficient next-generation pool licensing structure that addresses the need to minimize the impact of implementing next generation video codecs alongside current and prior generation technologies. We hope and expect that the launch of the VVC Advance Patent Pool and the MCBA will allow us to quickly consolidate a critical mass of the VVC patent landscape. Such consolidation will provide greater licensing certainty to the entire marketplace, while accelerating both VVC and HEVC adoption and providing users with a seamless and enhanced video experience." Royalty payments under the VVC Advance License and the MCBA will be required for sales of VVC products starting January 1, 2022. Access Advance encourages interested parties to act quickly as there are significant incentives for becoming a Licensor and/or Licensee on or before both January 1, 2022, and July 1, 2022, as well as significant incentives for those Licensors who are committed to supporting our goal of having a single pool for VVC. About Access Advance: Access Advance LLC (formerly HEVC Advance LLC) is an independent licensing administrator company formed to lead the development, administration, and management of patent pools for licensing essential patents of the most important standards-based video codec technologies. Access Advance provides a transparent, balanced, and efficient licensing mechanism for both patent owners and patent implementers. Access Advance currently manages and administers the HEVC Advance Patent Pool for licensing patents essential to HEVC/H.265 technology, and the separate and independent VVC Advance Patent Pool for licensing patents essential to VVC/H.266 technology. For more information about Access Advance, the HEVC or the VVC Advance Patent Pools or the MCBA, please visit www.accessadvance.com and/or contact Paul Bawel, SVP, Business Development, at Paul.Bawel@accessadvance.com. Contact: press@accessadvance.com SOURCE HEVC Advance