TiVo adds 313,000 MSO cable subscribers in 4Q 2013Wednesday, February 26th, 2014
Tivo Reports Results for the Fourth Quarter and Fiscal Year Ended January 31, 2014
- Continued acceleration in MSO additions; record 313,000 cable MSO subscriptions added in the fourth quarter
- Positive TiVo-Owned quarterly net additions for first time in six years; driven by 41% year-over-year growth in TiVo-Owned gross additions and lowest absolute churn in almost eight years
- Total TiVo subscriptions now at approximately 4.2 million, up 34% year-over-year
- Comcast plans to expand our successful integration of Xfinity On Demand to their entire footprint
SAN JOSE, CA — TiVo Inc. (NASDAQ: TIVO), a leader in the advanced television entertainment market, today reported financial results for the fourth quarter and Fiscal Year ended January 31, 2014.
Tom Rogers, President and CEO of TiVo, said, “We are continuing to see encouraging subscription growth. Our record 313,000 MSO cable subscription additions exceeded last quarter’s strong results and underscores that the TiVo offering continues to be deployed aggressively by operators globally.
“More specifically, in Spain, we’ve seen significant success with our partner ONO, which recently announced that the TiVo product has now reached more than 323,000 active users, a growth of 65,000 subscribers in just the last quarter. Rosalia Portela, CEO of ONO, recently said the company is positioning TiVo as the Pay-TV market benchmark and the record numbers shown in the last quarter show customers recognize that it’s an easy to use, highly advanced service that is superior to traditional offerings.
“In Sweden, Com Hem reported 38,000 TiVo subs, with the service already reaching 6% of their customers in just three months following launch, which was faster than the time it took Virgin and ONO to reach those same levels. Andrew Barron, Executive Chairman of Com Hem recently said, ‘TiVo is important to Com Hem as it is the key to restoring growth in our DTV business. The combination of the powerful TiVo platform and our broad content offers provide the strongest TV product available in our market.’
“In the U.K., the two millionth Virgin Media TiVo customer has been connected since the service launched in December 2010. Commenting on the milestone, Scott Kewley, Virgin Media’s director of digital entertainment, said, ‘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. 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.'”
Subscriptions (in thousands)
Three Months Ended Twelve Months Ended January 31, January 31, -------------------- -------------------- 2014 2013 2014 2013 --------- --------- --------- --------- TiVo-Owned Subscription Gross Additions: 49 35 126 117 Subscription Net Additions/(Losses): TiVo-Owned 6 (13) (63) (80) MSOs 313 222 1,123 950 Total Subscription Net Additions/(Losses) 319 209 1,060 870 Cumulative Subscriptions: TiVo-Owned 966 1,029 966 1,029 MSOs 3,243 2,120 3,243 2,120 Total Cumulative Subscriptions 4,209 3,149 4,209 3,149