TiVo, the maker of the first digital video recorder, has announced plans to slash its price in the US by half to $99 in a bid to attract new subscribers.
Launched five years ago, the subscription based company which allows users to record and pause live television, wants to drive its customer base up to 10 million users by 2008 as part of a new marketing campaign.
As well as cutting the price of its 40-hour set-top box, TiVo is also planning a national advertising campaign and is expanding its distribution of the devices to mass-market retailers.
Since launch TiVo has had a run of misfortunes, firstly the company had to withdraw from the British market a few years ago and more recently its share price has been at a 16 month low. According to reports, industry analysts are said to be doubtful the firm will hit its targets.
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