TiVo records increase in subscriptions for the first time in four years

PVR specialists TiVo have recorded an increase of 117,000 additional subscriptions to their service at the end of Q3 2011, reaching a total of 2.04 million net subscriptions globally.

This is a reversal in fortunes for the company compared to the drop in subscribers in the same period last year of 112,000, or the 33,000 drop in Q2 2011.

This growth in subscriptions is largely attributed to contract wins with Virgin Media in the UK, as TiVo is now taken by more than 222,000 of its subscribers, up from 50,000 three months earlier.

Despite the PVR provider having recorded service and technology revenues of $51.8 million in it’s third quarter, up 20% year-over-year, there was a  reported net loss of $24.5 million.

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