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Most of Adeia Inc.’s revenue comes from media patents covering how people find, stream and interact with entertainment. Video providers and device manufacturers pay to use these patented inventions in their services and products; media licensees include Disney and Amazon. Pay-TV providers typically pay monthly fees tied to subscriber counts, while streaming providers generally pay fixed fees for an agreed period. Device makers usually pay according to licensed product volumes, though some larger manufacturers pay fixed fees instead.
Adeia also licenses semiconductor patents and technical know-how to chip companies. These technologies cover ways to connect and package chips and address performance and heat-management needs. This is a smaller revenue source, with customers paying fixed fees or fees tied to units, production or development milestones.
A small group of customers supplies more than half of revenue. Fixed-fee and minimum-guarantee contracts provide a substantial part of the business, while variable royalties depend on subscribers and customer product volumes. Adeia needs to renew or replace expiring licenses and keep developing or acquiring useful patents as older patents expire. Its ability to collect licensing fees also depends on protecting and enforcing those rights.
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Disney’s settlement and long-term license to use Adeia’s media patents drove most of Adeia’s 2025 revenue increase. Disney earns streaming revenue from subscriptions and advertising, but Adeia recognized part of the license revenue upfront in the fourth quarter of 2025, so that increase was not all recurring income.
Comcast pays to use Adeia’s media patents in its television distribution businesses, including Sky, tying Adeia’s royalties to video subscribers and license renewals. Watch its paying television subscriber base: these distributors typically pay Adeia a monthly fee per subscriber.
Charter’s Spectrum television subscribers underpin royalties paid to Adeia for use of its media patents. Charter collects monthly fees for internet, mobile, television and voice services; for Adeia, the television subscriber count matters because these licenses typically charge monthly per subscriber.
Amazon’s multi-year license to use Adeia’s media patents materially affected Adeia’s 2024 results through revenue recognized upfront in the fourth quarter. Amazon Prime sells subscriptions that include movies, series and live sports; for Adeia, the timing of license agreements matters more than treating that upfront revenue as a recurring streaming payment.
Xperi sells television guides and viewing software to operators and device makers that also pay Adeia to use its media patents, giving both exposure to adoption of television discovery and viewing technology. Their separation agreements also leave reciprocal liabilities: claims allocated to Xperi could still require Adeia to pay, and reimbursement may not cover the full loss.
Alphabet’s Google pays to use Adeia’s media portfolio for YouTube and YouTube TV, connecting Adeia to both streaming and television delivered over broadband. Google earns primarily from advertising, but Adeia’s streaming licenses typically carry fixed fees for specified periods, while television-distribution licenses typically charge monthly per subscriber.
Optimum Communications pays to use Adeia’s media patents in its television services, so video subscriber losses and license renewals matter to Adeia’s pay-TV royalties. Its operating business sells broadband, television and mobile services to residential and business customers; watch television subscribers rather than the broader customer total.
SK hynix pays to use Adeia’s semiconductor portfolio in its memory business, linking Adeia to advanced memory production and technology adoption. SK hynix sells memory for computers, phones and data-center servers; its HBM production and customer qualification news provide a concrete window into that technology adoption, though Adeia’s semiconductor fees can take several forms.
Sandisk pays to use Adeia’s semiconductor patents in its flash-memory business, making new memory technology and license agreements relevant to Adeia. Sandisk sells enterprise SSDs, embedded storage and consumer drives; watch technology adoption across those products without assuming their sales translate directly into Adeia royalties, whose fee structures vary.
Starz pays to use Adeia’s media portfolio for premium subscription video services, adding a licensing customer rather than a direct per-subscriber revenue stream. Starz sells ad-free series and movies through services including STARZ; Adeia’s streaming customers typically pay fixed fees for specified periods, so subscriber growth does not automatically raise its license income.
Verizon pays to use Adeia’s media patents in its television distribution business, tying Adeia’s royalties to licensed video subscribers. Verizon also sells wireless and broadband services to consumers and businesses, but the relevant count here is television subscribers: these distributors typically pay Adeia monthly per subscriber.
Vodafone pays to use Adeia’s media patents for television distribution, linking its licensed video subscribers to Adeia’s royalties. Vodafone earns most of its revenue from mobile and fixed connectivity sold to consumers and businesses; for Adeia, watch the television subscriber base rather than Vodafone’s total telecom customers.
Sony pays to use Adeia’s semiconductor portfolio and sells image sensors, a business within Adeia’s sensor licensing market. For this relationship, Sony’s image-sensor business is the relevant part of its results, rather than its games, music or films; Adeia’s semiconductor agreements can use fixed, unit-based or other fees.
Comcast Corp earningsCMCSA
Comcast’s report will show whether its TV subscriber base is growing or shrinking, a key driver of the monthly per-subscriber license fees it pays Adeia.
Focus on Comcast’s TV subscribers, not customers for broadband or its other services. A stable or growing TV base would support the subscriber count used to calculate this customer’s fees; a decline would put pressure on that part of Adeia’s media licensing revenue, though not necessarily in the same proportion as Adeia’s total revenue. The takeaway is how well Comcast’s TV business supports Adeia’s per-subscriber fees.
SK hynix Inc. earningsSKHY
SK hynix’s report will show memory demand and HBM progress, offering Adeia a signal about product demand and technology adoption relevant to its semiconductor licenses.
Look at demand and production in SK hynix’s memory business, alongside HBM adoption. These are signals about the market, not a direct reading of Adeia’s license revenue. Stronger demand and adoption would support the memory market relevant to Adeia’s semiconductor licenses and could help fees based on units or production; weaker demand could pressure those fees, while fixed-fee agreements may not track shipments. The conclusion is how much support the memory market offers Adeia’s semiconductor licensing.
Adeia Inc. earningsThis company
Adeia earns from media and semiconductor IP licenses, and this report will show whether recurring licensing revenue can carry growth beyond large upfront license fees.
Read recurring revenue alongside operating cash flow, and note whether revenue leans on large license fees recognized upfront. Stable or rising recurring revenue with cash flow support would show that ongoing licenses are carrying the business. If growth comes mainly from upfront fees while recurring revenue stalls and operating cash flow weakens, results depend more on when deals are signed and revenue is recognized, and cash collection deserves attention. The conclusion is whether ongoing licenses can support Adeia’s growth.
Sony Group Corporation earningsSONY
Sony’s image-sensor results will show how demand is changing in one market served by Adeia’s semiconductor licenses.
Focus on Sony’s image-sensor business, not its games, music, or films. Stronger sensor demand would support the market for Adeia’s related semiconductor licenses and could help fees tied to units or production; weaker demand could put pressure on those fees, though fixed fees need not change with sales. The conclusion is how much Sony’s sensor business signals demand for Adeia’s related licenses.
