When companies with deep pockets make deals with Dolby, those deals may and often include exclusivity agreements. So, a competing company may put out a product of similar type and performance that does not include Dolby because an exclusivity deal needs to expire before it can do so. Just ask Sony. Dolby and Microsoft aren’t talking.
With the rise of 3D audio formats you may ask, why is Dolby Atmos not on PS5? The answer is currently a bit of a gray area
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Rather than deal with complaints about the lack of Dolby support in products as has been the case for some companies, perhaps Google, with its own deep pockets, decided to go their own way.
What dolby has more than anything, as was mentioned, is brand recognition. It also got ahead of the bandwidth curve and became the most viable option for streaming content. AC-4 will better its position still.
Dolby Vision had been marketed as the ultimate in HDR. So what if no current 10 bit TV panel can display the best its 12 bits can deliver from its 8 bit container.
HDR10+ didn’t gain much traction with very few discs, Samsung and Amazon supporting it. But, I believe Hulu, Paramount+ and a few more TV manufacturers now support it and Apple will start delivering a new Apple TV 4K in a couple of weeks that supports it as well.
I’d be interested in the outcome of Google’s endeavor. If it goes south, they can call it a day and go back to being extorted by Dolby. If it gains traction, they can start making their own deals that others cannot refuse and some may try to follow their example. Many will be oblivious to any new formats anyway as their devices output video signals in SDR and audio signals in two channel PCM and have their systems set to ALL CHANNEL STEREO.