TiVo OS Smart TV footprint nears 1m units
November 7, 2024
Xperi, the entertainment company and owner of TiVo, has announced third quarter 2024 financial results for the three-month period ended September 30th 2024. Revenue stood at $132.9 million (€123.5m), up from $130.4 million on the same period last year.
The company ended Q3 with over 2.4 million IPTV subscriber households, continuing the trend of consecutive quarters of double-digit year-over-year subscriber growth.
TiVo Broadband has expanded with the signing of two new operators (MSC and Westman) bringing the total number of operators to 12, of which eight were added this year.
“With the Perceive transaction [sold to Amazon for $80 million] now closed, we are fully focused on entertainment-based solutions to grow our independent media platform and licensing businesses. Our TiVo OS Smart TV footprint is approaching one million units, and with accelerating partner activity we believe we remain on-track toward our year-end target of two million active connected devices,” said Jon Kirchner, chief executive officer of Xperi.
“Our innovation pipeline continues to yield exciting new product solutions, including those benefiting from our prior work in the AI space. As an example, we recently launched our award-winning, AI-driven DTS Clear Dialogue solution, which addresses a real-world problem for TV audiences – dialogue intelligibility. Lastly, and very importantly, our business transformation efforts have helped us drive operating leverage and deliver meaningful improvements in our profitability metrics, in line with the three-to-five-year targets that we announced in September of 2022,” Kirchner added.
Xperi has updated its 2024 outlook, projecting revenue between $490 million and $505 million, down from the original $500 million to $530 million.