TiVo has reported better than forecast quarterly results as it saw higher sales of its DVR through Virgin Media. “The number of TiVo subscriptions across the globe grew 41 per cent year-over-year this quarter, highlighted by continued success at Virgin Media, which recently reached one million TiVo subscriptions,” Chief Executive Tom Rogers said.
While TiVo continues to sell its set-top boxes, it also licenses its digital video recording technology to cable operators such as Virgin, Charter, DirecTV (DTV.O), Ono, RCN and Suddenlink. Rogers said Virgin Media contributes the highest number of subscribers to TiVo. Out of a total of 2.7 million subscribers, Virgin Media’s share is about 1 million subscribers. Total subscriptions grew by 230,000 in the second quarter.
Revenue in the second quarter at TiVo rose 7 per cent to $65.3 million.