TiVo Narrows Q4 Loss8 Mar, 2007 By: Erik Gruenwedel
Despite aggressive attempts to differentiate itself from cable TV digital video recorders, DVR pioneer TiVo Inc. posted a fourth quarter (ended Jan. 31) loss of $18.7 million, compared to a loss of $21.9 million during the same period last year. Fiscal year losses increased 27% to $46.9 million, compared to a loss of $36.9 million last year.
Net additions of TiVo-owned subscribers totaled 101,000 members, down from 183,000 new subs last year. Cumulative TiVo-owned subs increased 16% to 1.7 million, compared to 1.5 million last year. DirecTV licensed TiVo subs dropped 91,000 members to 2.7 million, compared to a gain of 173,000 subs last year to 2.8 million subs.
Company executives contributed part of the sub decline due to increased household purchases of HDTVs. TiVo plans to unveil an HD set-top box this year.
Increased content and advertising deals with assorted media, auto, consumer electronics and telecommunications companies helped drive quarterly revenues to $57.3 million, compared to $46.9 million last year. Fiscal year revenues topped $217 million, compared to $170.8 million last year.
Last week's launch of the co-branded Amazon Unbox on TiVo movie and TV episode download service occurred outside the fourth quarter.