iBiquity's HD Radio Technology Leads to Breakout Year for Digital Radio

1/6/2006 - Digital HD Radio technology enjoyed a remarkable year in 2005:

"At the beginning of 2005, our goal in the broadcast space was to finish the year with 600 stations on the air, and, as a result of broadcasters converting stations at a rate of more than one per day, we surpassed that goal," said Bob Struble, president and CEO of iBiquity Digital, developers of HD Radio technology. "On the hardware side," he said, "we worked successfully with our partners to diversify the product categories for HD Radio receivers, including the first automotive OEM platform. At the same time, prices of HD Radio products fell by 50% or more from the previous year’s levels. By nearly every measure, 2005 was a tremendously successful year."

Struble continued, "We anticipate an even more aggressive rollout in 2006: the number of HD Radio stations on the air will more than double; hundreds of new multicast channels covering all major markets will launch; receiver prices are coming down; and products in more categories will enter the market. We also expect great expansion in HD Radio product visibility at retail and factory-installed radios to be available in more and more vehicles."

A good deal of the HD Radio success story in 2005 can be attributed to the commitment of the broadcast community. The year began with 21 of the leading broadcast groups making a collective commitment to upgrade 2,000 stations to HD Radio technology. The year ends with the radio industry reinforcing that commitment with a several-hundred-million-dollar marketing and programming development Alliance. During the year, hundreds of HD Radio stations went live, many debuting new multicast channels, featuring unique formats not typically heard on FM radio, such as opera, jazz, gospel, dance, and regional music, many of which are featuring little-known, up-and-coming artists.

On the hardware front, 2005 began with three aftermarket automotive HD Radio receivers at retail. By the end of the year, more than 10 new HD Radio products were announced, from companies including Audio Design Associates, Alpine, Boston Acoustics, DaySequerra, DICE Electronics, Eclipse, Panasonic, Radiosophy, Rotel, Sanyo and Yamaha. In addition to expanding the number of options for consumers, these products expanded the range of HD Radio categories to include home stereo components and tabletop radios.

About iBiquity Digital
iBiquity Digital Corporation is the sole developer and licenser of HD RadioTM technology in the U.S. HD Radio is transforming today's AM and FM radio stations to digital, enabling radically upgraded sound, crystal-clear reception, multicasting (multiple channels broadcast from the same FM station) and advanced data services such as real-time traffic updates. iBiquity Digital's investors include 15 of the nation's top radio broadcasters, including ABC, Clear Channel and Viacom’s Infinity Broadcasting; leading financial institutions, such as Grotech Capital Group, J.P. Morgan Partners, New Venture Partners, Pequot Capital and J&W Seligman; and strategic partners Ford Motor Company, Harris, Texas Instruments and Visteon. Named one of Deloitte’s Fast 500 Companies, iBiquity Digital is a privately held company with operations in Columbia, MD, Detroit, MI, and Warren, NJ.

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