TiVo seeking “strategic alternatives”
August 9, 2018
By Chris Forrester
TiVo’s newly-appointed interim CEO Raghu Rau, in position for just a month, confirmed to analysts on the company’s Q2 results presentation that it is conducting a very comprehensive review and evaluating all possible options to best improve stockholder value, and this could include possible acquisitions and disposals or the separation of some business divisions.
TiVo is owned by Rovi, but for the purposes of the results they referred only to the TiVo Solutions division, and Rau explained that TiVo felt there is a real opportunity in the marketplace for a well-scaled next-generation video products business.
TiVo’s installed subscriber base is 22 million.
Rau said its next-generation TiVo Experience 4 was released in Q4 to the retail market and is now available for Pay-TV customers. “This product continues to enjoy traction in the market and was recently awarded most innovative design for user interface at the interactive TV Today 15th Annual Awards For Leadership in Interactive and Multiplatform Television. This past quarter, we further enhanced the next-generation TiVo Experience 4 by incorporating far field voice recognition with Amazon’s virtual assistant, Alexa.”
He added that TiVo’s ‘best in class’ voice solution was gaining traction, with 1.4 million unique users during the quarter, up from 1.2 million in the previous quarter. “We continue to be very excited about this product, both as a feature in TiVo Experience 4 as well as a standalone feature deployed by Tier 1 service providers such as DISH and BSkyB.”
On a consolidated basis, Q2 revenues were $172.9 million. TiVo’s core business generated $160.2 million in revenue in the quarter. In Q2, its noncore revenues, including the legacy TiVo Time Warp IP deals for $8.4 million, hardware sales of $3.3 million in our legacy analog products classified as other product of $1 million.