TiVo subs up 34% year on year

The latest financial results for TiVo reveals that global subscriptions were up 34% year on year to reach 4.2 million.

Record Service and Technology revenues hit the $84 million mark in the fourth quarter of 2013, up 28% over the year, while the quarter’s net income surpassed $710,000.

For the first time in six years, the company reported positive TiVo-Owned quarterly net additions, driven by 41% year on year growth in TiVo-Owned gross additions and the lowest absolute churn in almost eight years.

“Virgin Media TiVo started a revolution in the way people watch and discover great TV and it’s clear from our growth that our customers agree,” said Scott Kewley, director of digital entertainment.

“By offering different ways to watch, with subscription and pay-per-view options, all integrated into a straightforward, intuitive experience, there’s an unrivaled world of great entertainment at our customers’ fingertips.”

Since the service launched in the UK in December 2010, two million UK residents have subscribed.