Virgin Media Selects TiVo For Next Generation TV PlatformTuesday, November 24th, 2009
Companies enter mutually exclusive arrangement to develop UK’s most advanced television and broadband offering
ALVISO, Calif., and LONDON — TiVo Inc. (Nasdaq: TIVO), a leader in the creation of television services and advertising solutions for digital video recorders (DVRs), and Virgin Media Inc. (Nasdaq: VMED; LSE: VMED), the UK’s leading entertainment and communications company, today announced they have entered into a strategic partnership under which TiVo will develop Virgin Media’s next generation TV platform. Under the mutually exclusive agreement, TiVo will develop a converged television and broadband interactive interface to power Virgin Media’s next generation, high definition set top boxes. The terms of the deal are not disclosed.
TiVo will become the exclusive provider of middleware and user interface software for Virgin Media’s next generation set top boxes. Virgin Media will become the exclusive distributor of TiVo services and technology in the United Kingdom.
Neil Berkett, CEO of Virgin Media said, “TiVo’s proven track record of innovation, strength of its patented technology and experience in developing best in class user environments, make it an ideal strategic partner for Virgin Media as we move aggressively to bring our next generation TV service to market. The superiority of our fibre optic network combined with TiVo’s capabilities, will allow us to offer consumers the most significantly advanced and compelling TV service available in the UK, and we believe will do to the TV market what Virgin Media has done to the high speed broadband market.”
The next generation platform will offer a superior television viewing experience which will allow Virgin Media customers to search and discover content through major advances in video-on-demand integration and broadband video delivery creating the ultimate one-stop-shop for in-home entertainment.
“This deal underscores TiVo’s commitment to expanding its global footprint through strategic alliances with leading international media companies to help them deliver the best in-home entertainment experience for consumers,” said Tom Rogers, president and CEO of TiVo Inc. “We are very excited about this new distribution relationship with the UK’s most advanced pay television provider and are particularly proud to have been selected as Virgin Media’s core software partner for its next generation DVR-enabled set top boxes and its next generation non-DVR set top boxes. Virgin Media is a true leader in the world of entertainment and their enthusiasm for building the next generation of pay television is an excellent opportunity to put all of TiVo’s innovation to work in a product distributed by a world class partner. We believe this international deal affords us a significant subscriber growth opportunity.”
Virgin Media currently anticipates its first TiVo co-branded product in 2010.