TiVo Results Show Narrower Losses

09 March 2007

ALVISO, California: US digital video recorder pioneer TiVo saw its fourth quarter losses narrow to $18.7 million (€14m; £9.6m), compared with a deficit of $21.1m a year earlier.

Revenue rose year-on-year to $77.6m from $60.1m. Excluding hardware sales, service and technology, it increased 22% to $57.4m from $47m in the year ago period.

As at January 31, the total number of subscribers was 4.44m, compared with 4.36m a year ago. Gains in TiVo-owned subscribers offset declines of customers signed-up with partner DirecTV.

TiVo, which has yet to make a profit, also introduced a series of new features to compete against DVR services from cable and satellite TV providers.

These include a venture with online retailer Amazon whereby subscribers rent or buy videos, then download them directly to a set-top box to be watched like any other program recorded via their TV [WARC News: 08-Feb-07].

Data sourced from Wall Street Journal Online; additional content by WARC staff