TiVo Records Q2 30% Increase In Service And Technology Revenues

TiVo also reported a better than expected net loss of $6.4 million in Q2, with its internally-owned subscriptions growing by 30,000 during the second quarter. The company had a total customer count of 4.4 million at the end of the second quarter.

Tom Rogers, chief executive officer of TiVo, said, “The second quarter was a period of significant activity for TiVo. During the quarter, we announced and released a number of key product features that are clearly differentiating TiVo from its generic competition. We continue to refine our pricing and positioning strategies to maximize our sales opportunities for the critical fall and holiday selling period. We successfully increased our retail distribution by approximately doubling the number of retail outlets through which TiVo is available, with the commencement of the RadioShack relationship.

Development work on the Comcast front is moving forward and we are working on other mass distribution strategies, such as the BellSouth relationship, that we announced during the quarter. And, we devoted substantial energy to building advertising relationships and capabilities and to laying the groundwork for this critical and growing part of the business. This is underscored by advertising revenues doubling year-over-year.”

TiVo has recently been involved in a court case with EchoStar for alleged patent infringement. Rogers said: “We are confident in our case, and the positive news that has come out over the past several weeks certainly supports that we will ultimately prevail in all phases of this litigation.

“The decision by the federal circuit court is not based on a consideration of the merits of EchoStar’s request, and is simply entered to preserve the status quo while the court considers the papers submitted by both parties as to whether a stay should or should not be in effect for the duration of the appeals process.”