TiVo rebounds strongly
February 27, 2014 08.52 Europe/London By Chris Dziadul
TiVo Com HemTiVo added a record 313,000 cable MSO subscriptions in the fourth quarter and its subscription total now stands at around 4.2 million, a 34% increase year-on-year.
At the same time, it has transformed an annual net loss of $5.2 million (€3.8 million) into a profit of almost $272 million.
In its latest set of results, for the fourth quarter and fiscal year ended January 31, 2014, the company gives a progress report of its activities in both Europe and the US.
In the former, Virgin Media (UK) has reached 2 million TiVo customers, Ono (Spain) over 323,000 active users and Com Hem (Sweden) 38,000 subscribers.
Commenting on the results, Tom Rogers, president and CEO of TiVo, said that the company continues to add distribution partners.
Earlier this week, for instance, it announced that it had been selected by Vyve Broadband, a new MSO run by former Bresnan Communications executives through the acquisition of systems from Mediastream and Allegiance Telecom.
Rogers also said that “Similarly, on the TiVo-Owned front, TiVo Roamio continues to be well received by consumers, where a 41% year-over-year increase in TiVo-Owned gross additions and our lowest absolute churn in almost eight years, led to positive net TiVo-Owned subscription additions in the fourth quarter for the first time in six years. In regions where we advertised, we saw higher gross additions than in the markets where we did not”.
He continued: “We are also pleased that Comcast has committed to expanding our successful integration of Xfinity On Demand to their entire footprint. This integration on the Roamio and Premiere platforms has been an important one for us, as the robust Xfinity library, along-side traditional TV channels and web content delivers a one-stop shop for home entertainment. Market-by-market rollouts are occurring now, with full-scale deployment in all U.S. markets — including Chicago, Atlanta and Houston — expected to be complete by June 30, 2014.
TiVo also last month acquired Digitalsmiths, further accelerating its evolution to a device and user interface independent cloud-based Software-as-a-Service.
TiVo had net revenues of $406,253,000 (€296,040,000) in the 12 months ended January 31, 2014, compared to $303,908,000 a year earlier. It transformed a net loss of $5,264,000 into a net profit of $271,816,000 over the same period.