TiVo Posts Q1 Loss, Sells DVR Units Through Blockbuster27 May, 2009 By: Erik Gruenwedel
Digital video recording pioneer TiVo Inc. May 27 reported a first-quarter (ended April 30) fiscal year 2010 net loss of $4.1 million, compared to income of $3.6 million during the previous-year period.
The Alviso, Calif.-based service cited the ongoing economic recession and its negative impact on consumer electronics sales for the downbeat results.
TiVo said it had begun selling branded DVR units in Blockbuster video stores, in addition to offering movie streams to subscribers via Blockbuster OnDemand. The two companies announced the partnership March 25.
TiVo also said it was close to launching an exclusive DVR service with Comcast in the Chicago market and New England markets.
Net revenue totaled $54.8 million, compared to $60.7 million last year.