Strategy in TECH...
Sonance surprised us at CEDIA Expo 2023 with the launch of an all-new Visual Experience line of architectural loudspeakers. Embodying several true innovations, and available in both Sonance and James versions, the Visual Experience line will supersede the highly successful and award-winning Visual Performance series – a series that was a best-seller for most Sonance integrators.
On Monday, WiSA Technologies, a developer and licensor of spatial, wireless sound technology, publicly announced the pricing of a new $4.8 million public offering of Series B convertible redeemable preferred stock and warrants. Separately, and a little less publicly, the company also filed a Form 8K with the Securities and Exchange Commission (SEC) revealing that it is “pursuing a potential strategic transaction.”
The result of both of these pieces of news is that the company’s stock value nosedived as investors turned thumbs down on this latest turn of events at the troubled organization.
In a shocking twist to a long-running patent battle, U.S. District Court Judge William H Alsup declared Sonos’ ‘966 and ‘885 patents at trial are unenforceable and invalid effectively countermanding a jury decision on behalf of Sonos and a royalty award of $32.5 million. Furthermore, the judge’s order suggests that Sonos abused the patent system by attempting to use it to “punish an innovator” and to “enrich a[n] [innovation] pretender.”
A new study recently released by TiVo Platform Technologies (TiVo) – a subsidiary of Xperi, Inc. – called Smart TVs Paving the Way quantifies a marked shift in trends in consumer consumption of streaming entertainment – as well as spending on streaming services. Top findings noted a decline in both the number of services to which consumers subscribe and the amount of money they spend monthly to obtain such services.
Yet, the same study showed an increase in consumers’ average daily consumption of streaming entertainment content.
Last week, Sonos quietly let the Securities and Exchange Commission know that Panos Panay resigned from the Sonos board of directors, effective September 27, 2023. They made no public announcement that I am aware of, even though this news could have a major impact on the company’s direction. Why? Simply because Panos Panay is one of the most respected technology product gurus in the industry – so much so that Sonos trumpeted his arrival loudly when they convinced him to join their board in 2020.
Separately, and within just days of the exit of Panay, the company announced three “new” (I’ll explain the quotes around the word new below) additions to its executive team, including a new, promoted from within, Chief Product Officer…
Lenbrook Corporation, a Canadian company that holds a portfolio of premium specialty brands, announced this morning it has acquired the assets of MQA, ltd., the U.K.-based company behind the Master Quality Authenticated (MQA) high-resolution audio encoding system in a transaction it hopes will breathe new life into the technology that had fallen into a form of receivership upon the loss of its major financial backer. Terms of the deal were not disclosed as part of this announcement.
Well, the question I posed yesterday as to whether we’d see CEDIA Expo 2023 attendance up or down as compared to the show last year appears to have been answered. Aisles and booths were filled on Day 1 of the event, suggesting that CEDIA Expo 2023 attendance is not only ahead of last year’s numbers…but perhaps well ahead. So it seems we are all on a Rocky Mountain High.
But was there anything interesting to look at on the show floor? See some of the items I found interesting…
AudioControl Pro (AudioControl) is launching some interesting new products at CEDIA Expo 2023, including new min-chassis audio/video receivers (AVRs) and adding Dante network connectivity to a popular multichannel amplifier. In both cases, these products open up new opportunities and capabilities for integrators – a role the company has enjoyed for several years now.
At the end of July, CEDIA announced that it would be holding a new kind of event called the CEDIA Symposium on the day before the CEDIA Expo 2023 opens. The association is all-in on AI apparently, and this symposium is all about AI in custom integration. The announcement promises it will offer “an engaging afternoon of thought-provoking discussions led by industry visionaries, AI experts, top integrators, and manufacturers.”
From the very beginning, there were, in my eyes, troubling elements to this initiative. Little did I know what was to come – that CEDIA would choose to bar the news media from its CEDIA Symposium
The only way to truly know the performance of a screen is through a detailed and rigorous testing routine. For that, you need a sophisticated testing laboratory space with specialized testing gear – known as an imaging lab. Not all screen companies have one, but Draper’s TecVision does and the company graciously treated me – and via this story, you – for a visit to the impressive TecVision Imaging Lab.
