Tue, 06/28/2022

RealNetworks Announces Executive Leadership Changes

SEATTLEJune 28, 2022 /PRNewswire/ -- RealNetworks, Inc. (Nasdaq: RNWK), a leader in AI-powered digital media software and solutions, announced two significant changes to its leadership team.

First, Real announced the appointment of Paul DiPeso to the newly created position of President, SAFR. Mr. DiPeso started today and reports to CEO Rob Glaser.

Mr. DiPeso has over 25 years of top management experience in physical security with leading industry corporations. He was most recently Executive Vice President and General Manager of Feenics, an Access Control as a Service (ACaaS) software solutions company that was recently acquired by ACRE.  He previously served in various physical security executive roles at Tyco International, Lenel, a subsidiary of United Technologies Corp. and Honeywell International. Mr. DiPeso earned his Bachelor of Science in Communications from Towson University.

Commenting on the new leadership appointment, Rob Glaser, Real's Chairman and CEO, said, "Paul is a proven leader who has a demonstrated track record of building and growing significant businesses in the access control industry.  Paul is the ideal leader to take the excellent and innovative SAFR products we have built and build a large and successful business."

"The physical security industry has been transforming rapidly to provide customers with solutions that better secure their assets.  What attracted me to RealNetworks was SAFR's product alignment to customers' needs and SAFR Scan's access control solution that represents the next generation of technology that will make a difference for many years to come," said Mr. DiPeso.

Second, now that Real has appointed Presidents for each of its three growth initiatives – SAFR, Messaging, and Games -- President and Chief Operating Officer Mike Ensing will be transitioning to a strategic advisor role at the company, effective July 1, 2022.

Mr. Glaser added, "Since the beginning of 2020, just before the Pandemic hit, Mike Ensing has been a crucial member of Real's leadership team.  First as our interim CFO, and then as our President and COO.  I'm deeply grateful and appreciative for everything Mike has done during these turbulent 2 ½ years to help set Real up for the future.  While we're going to miss Mike's fulltime presence, the strong team that Mike has helped us build positions us well for the future."

"During the last 2 plus years at Real, I have been working with exceptional people and great teams on exciting new products and businesses," said Mr. Ensing. "I am proud of the work we have accomplished and the team we have built laying the foundation for future growth. These are exciting times, and I am looking forward to seeing the next phase of Real over the coming years."

About RealNetworks

Building on a rich history of digital media expertise and innovation, RealNetworks has created a new generation of products that employ best-in-class artificial intelligence and machine learning to enhance and secure our daily lives. Real's portfolio includes SAFR, the world's premier computer vision platform for live video, KONTXT, an industry leading NLP (Natural Language Processing) platform for text and multi-media analysis, and leveraging its digital media expertise, a mobile games business focused on the large free-to-play segment. For information about all of our products, visit www.realnetworks.com.

RealNetworks is a registered trademark of RealNetworks, Inc. All other trademarks, names of actual companies and products mentioned herein are the property of their respective owners.

Forward-Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to our current expectations regarding our future growth, profitability, and market position, our financial condition and liquidity, our strategic focus and initiatives, product plans, agreements with partners, Scener's current and future activities, and certain remaining contingencies relating to the sale of Napster. All statements contained in this press release that do not relate to matters of historical fact should be considered forward- looking statements. These statements reflect our expectations as of today, and actual results may differ materially from the results predicted. Factors that could cause actual results for RealNetworks, on a consolidated basis, to differ from the results predicted include: our ability to realize operating efficiencies, growth and other benefits from the implementation of our growth initiatives and restructuring efforts; cash usage and conservation, and the pursuit of additional funding sources; successful monetization of our products and services; competitive risks, including the emergence or growth of competing technologies, products and services; issues with the use of AI; potential outcomes and effects of claims and legal proceedings; risks associated with key customer or strategic relationships and business acquisitions and dispositions; challenges caused by the COVID19 pandemic; disruptions in the global financial markets, including changes in consumer spending and impacts to credit availability, and fluctuations in foreign currencies; volatility of our stock price; material asset impairment; continued declines in subscription revenue; difficulty recruiting and retaining key personnel; regulatory, tax, accounting, and cross-border risks; and risks related to our governance structure. More information about potential risk factors that could affect our business and financial results is included in RealNetworks' latest annual report on Form 10-K for year ended December 31, 2021, its quarterly reports on Form 10-Q and in other reports and documents filed by RealNetworks from time to time with the Securities and Exchange Commission. The preparation of our financial statements and forward- looking financial guidance requires us to make estimates and assumptions that affect the reported amount of assets and liabilities, and revenues and expenses during the reported period. Actual results may differ materially from these estimates under different assumptions or conditions. RealNetworks assumes no obligation to update any forward-looking statements or information, which are in effect as of their respective dates.

Contacts:
Brian M. Prenoveau, CFA
MZ North America
561-489-5315
ir@realnetworks.com