Tivo Q2 net loss widens to $15.3 mn

MUMBAI: Tivo‘s second-quarter loss widened to $15.3 million from $2.7 million. Service and technology revenues were $42.1 million, exceeding its guidance of $40 million to $42 million and compared with $48.8 million for the same period last year and $43.2 million in the prior quarter.

Adjusted EBITDA was ($6.5) million, compared to guidance of $9 million to $11 million, and $5.5 million in the same period a year ago. 

Tivo has seen lower customer-addition numbers and a higher defection rate. In the most-recent quarter, the company lost 125,000 subscribers, compared with the 146,000 it lost a year earlier. Its total customer base is 22 per cent smaller than it was a year earlier and stands at 2.4 million.

Subscriber-acquisition costs fell 27 per cent. Monthly churn, or the cancellation rate, was 1.9 per cent for Tivo-owned subscribers, up from 1.5 per cent a year earlier.

Tivo president and CEO Tom Rogers says, "This quarter we put several strategic relationships in place that further demonstrate our growth plans, led by fast, cost-efficient solutions that bring the Tivo experience to consumers and operators around the world. At the same time, Tivo remains on solid financial footing, exceeding our revenue and earnings guidance and with a strong balance sheet of over $240 million in cash and short-term investments, and no debt."
Tivo has seen a progress on the mass distribution front this quarter as operators are increasingly embracing Tivo‘s solutions, not only in the U.S. but also in key international markets. In the US, operators like RCN, Suddenlink Communications, and Cox Communications are demonstrating just how quickly a Tivo solution can be deployed by repurposing its retail products.

"Internationally, Virgin Media and ONO are embracing Tivo‘s user interface because it represents a proven solution for hybrid broadband and traditional linear television platforms that can be deployed in a variety of environments. As an example of TiVo‘s rapid adoption domestically, RCN completed the rollout of TiVo Premiere, as its primary DVR offering, across its entire footprint in just three months including Washington, D.C., New York City, Boston, Philadelphia, Lehigh Valley, PA, and Chicago, well ahead of schedule. The speed and ease by which RCN was able to bring the latest Tivo hardware to market underscores the value of Tivo‘s offering and will serve as a proxy for other operators who want to offer the best of cable TV and Internet delivered content in a manner that balances consumer choice and strategic control for the operator. Feedback from RCN subscribers has been extremely positive, the results are exceeding expectations and we are seeing accelerated adoption," said Rogers. 
Tivo recently announced an important deal with Cox Communications, the third largest US cable television operator, to promote TiVo Premiere to its customers and, importantly, integrate access to its Cox On Demand service into Tivo Premiere.

Rogers said this is a major leap forward for the cable industry because it is the first time a cable operator will make its entire video on demand library available to a retail device.

Latest Reads
HAL Robotics ropes in Navanit Samaiyar as board member and advisor

MUMBAI: HAL Robotics has roped in Navanit Samaiyar as its board member and advisor. Samaiyar has a record of setting up, scaling and transforming businesses across a very wide cross section of industries spanning from IT/ ITeS to steel, telecom, engineering goods, earthmoving machinery, logistics...

Technology Hardware Components
Republic TV launches Android app

MUMBAI: Republic TV is on a roll. From rocking the ratings chart in launch week itself to going international, the channel has added one more accomplishment to its kitty. The Republic TV Android app is now live.

Technology Software Applications
STB cos in India, China enhancing features, providing customised solutions, Technavio enlists top vendors

MUMBAI: The global STB market is characterised by intense competition as the market is saturated in developed countries. The market share of these players is declining because of the entry of new players. The STB companies are enhancing the features of STBs and providing customised solutions to...

Technology Hardware Set-top Boxes
India's PFT Clear Media ERP suite to help US' PBS content delivery

MUMBAI: Prime Focus Technologies (PFT), the technology arm of Prime Focus, announced that its CLEAR™ Media ERP Suite has been selected by Public Broadcasting Service (PBS) to enhance their Network Operations Center (NOC) ecosystem efficiencies and sustainability, with the objective of reducing...

Technology Software Applications
Broadcasters, OTTs to gain as Via adds xHE-AAC at special rate

MUMBAI: Via Licensing Corporation, a intellectual property solutions provider, has announced the upcoming availability of Extended High Efficiency AAC (xHE-AAC) as part of the Advanced Audio Coding (AAC) patent pool. The expanded patent pool licence will be available at no additional cost to...

Technology Software Applications
Tata Comm to deliver Motorsport videos on global devices

MUMBAI: Tata Communications will now deliver video content for viewers' all devices over its global network. The two have partnered to power the growth of the network’s internet television platforms.

Technology Software Applications
How to create live video content sans pros, convert radio broadcast into visual show

MUMBAI: ChyronHego will be showcasing its live production, automation solutions at Broadcast India show in Mumbai in mid-October.

Technology Software Applications
Sony renews IP licence deal with TiVo

MUMBAI: TiVo Corporation, a leader in entertainment technology and audience insights, has announced that Sony Corporation, a leader in consumer electronics, has renewed its multi-year intellectual property (IP) licence agreement. The license to TiVo’s patent portfolios covers all of Sony’s...

Technology Software Applications
Digital TV, growing telecom major drivers of coaxial cable growth in A-Pac: Study

MUMBAI: The global coaxial cables market is mature owing to the use of coaxial cables in industries for a long time and the slow or stagnant product innovation.

Technology Hardware Components

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories