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Coming off a record performance in the company’s fiscal 2015 third quarter, TiVo CEO Tom Rogers was upbeat about global traction, delivering a great television customer experience, and eclipsing a significant milestone.
“From a broad perspective, TiVo is receiving significant global traction as now we have reached a major milestone of more than 5 million subscriptions,” Rogers said during the company’s Nov. 25 financial results conference call, according to a Seeking Alpha transcript. “This success is being driven by our continued innovation and our ability to deliver a great television experience, regardless of how the video is delivered.”
TiVo reported net revenue of $118.4 million for the quarter, which was a record for the company.
“We broadened our retail product line, introducing TiVo Roamio OTA as an over the air solution and TiVo Mega for the high-end home installation market, and we launched Amazon instant video, VUDU and HSN applications on our TiVo Roamio platform,” Rogers explained. “We have successfully deployed product offerings that incorporate traditional linear TV, IP TV, TV everywhere, over the top, cloud-based functionality, and over the air viewing. Our diverse capabilities are critical at a time when operators are determining how best to address a changing video content landscape.”
What’s more, Rogers believes TiVo is well situated to provide the technology that meets the needs of the consumer, no matter where the content originates, or on what device the consumer wants to view it. He is confident that TiVo continues to provide memorable customer experiences and keen customer engagement.
“More specifically, on the operator side of the business, we continue to deliver both strong subscription growth and better operating results for our operator partners,” he explained. “Year to date, we have added almost 1 million MSO subscriptions and in Q3, we added 337,000 subscriptions. We have now reached over 4 million total MSO subscriptions, proof that our operator relationships are truly thriving. Further, the 37% increase in MSO revenue in the third quarter sets us on a course to almost double our MSO service revenue compared to fiscal 2013. We expect that this positive momentum will continue as existing relationships scale, many of which are still in the early phases of deployment and as we anticipate forming new distribution relationships.”
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