Another What Hi-Fi interview with Bob Stuart alone recorded at CES 2016, published Jan 9 2016.

What struck me is that Bob clearly states again, "we have a free and open licensing system" when asked how MQA choses hardware and software partners.

Do we know how MQA makes money? I've read that content providers need an HSM (Hyper Security Module) to generate keys during encoding, but this can hardly be the business model.

Antipodes CX + Roon, 818v3, DSP 7200SEs, 218, DSP3200s