10.13 Europe/London, August 25, 2011 By Julian Clover
TiVo CEO Tom Rogers (photo: Rudy Zijlstra)
TiVo president Tom Rogers says the deals signed over the past few years are now delivering a substantial number of subscribers.
Delivering both adjusted EBITDA and net income that exceeded guidance, Rogers said the trend at the connected DVR supplier would only accelerate with more deployments later in the year.
In the second quarter ending July 31, 2011, service and technology revenues were $49.6 million, compared to $42.1 million for the same period last year. The adjusted EBITDA loss of $9.2 million contrasted with a $6.5 million loss of 12 months previous, though below the company’s anticipated range of between $14 million and $16 million.
“Our mass distribution efforts are now showing tangible results through subscription growth. We are seeing subscription growth from partners such as RCN, Suddenlink, and Virgin Media, while Charter, DIRECTV, and ONO are progressing towards launch, which we believe should provide further momentum,” said Rogers. There was no mention for TiVo’s other announced European client, the Telenor-owned Canal Digital.
“The international market in particular, is a great opportunity for TiVo because there are hundreds of millions of TV subscribers, whose pay-TV providers are going to need to transition to advanced television over the next few years, just like Virgin Media is doing. The early success of Virgin Media has been extremely helpful in showcasing our talents, and we’re having meaningful dialogue with others looking to follow this same path.”
Rogers highlighted the 50,000 TiVo subscribers gained by Virgin Media as a strong indication of consumer demand in what were the early stages of consumer deployment