BERLIN – Xperi Holding Corporation (Nasdaq: XPER), today announced the launch of its independent media platform, TiVo OS. Consumer electronics leader Vestel will ship the first smart TVs Powered by TiVo in Europe beginning in 2023.

Unlike existing platforms, which are largely built around "walled gardens," TiVo OS is a first-of-its-kind neutral platform, aimed at giving original equipment manufacturers (OEMs) significantly more control over the user experience and helping consumers cut through the clutter of streaming and linear content options with simplified, universal discovery to consumers. With an award-winning content-first experience, global content provider scale and profitable partnership model, Powered by TiVo™ is the ultimate independent smart TV operating system.

"We estimate that nearly 40% of the smart TV market is searching for a truly independent platform like ours, and a supportive industry partner with deep domain expertise," said Jon Kirchner, CEO, Xperi. "Today, nearly 30 million households worldwide are powered by TiVo through an array of CTV and other partners. We are pleased to have signed our first smart TV partnership for TiVo OS, our embedded operating system and media platform for smart TVs, underlying progress toward our goal of becoming a leading independent TV OS platform supplier."

Vestel, one of the top three European TV producers will launch Powered by TiVo Smart TVs as part of a multi-year, multi-country, multi-million-unit agreement, with the first units expected to ship in 2023.

"Vestel, aligned with is mission of being the 'retailer of retailers,' offers a wide range of choices to its customers in terms of Smart TV OS platforms," said Turan Erdoğan, CEO, Vestel. "TiVo, and its parent company Xperi, have a long history of both championing great customer experiences and creating entertainment ecosystems. We believe that the industry will benefit from a partner-oriented, independent media platform that provides the necessary scale, both in technology and content to satisfy the global media landscape. TiVo has a proven track record in making it easy for consumers to find, watch and enjoy the content they love. We're excited about partnering with TiVo to provide a European-focused Vestel Smart TV Powered by TiVo OS to provide consumers the experience they want."

Based on decades of experience growing profitable consumer electronics and entertainment ecosystems, the Powered by TiVo model is designed to maximize the lifetime value of customers for TV OEM partners better than competing platforms. With the expected growth of connected television (CTV) advertising from 16 billion USD to 36 billion USD by 2026, television OEMs, like Vestel, have an opportunity to work with TiVo and participate in monetization throughout the lifecycle of the Smart TV.

A TV Powered by TiVo can deliver better viewer engagement with an unbiased content-first user experience where live hybrid TV and streaming services are fully integrated. This empowers consumers to intuitively discover TV shows and movies across their favorite streaming apps in a free, familiar, and frictionless experience by selecting the streaming services that are most relevant to them.

Xperi/TiVo