TiVo: Records $4 Million Loss In 1Q
Lower subscriptions versus a year ago took a toll on TiVo as the digital video recorder company announced a fiscal first-quarter loss.
A poorer economy was to blame as TiVo lost $4.13 million in its first-quarter 2010 fiscal year versus the first-quarter 2009 fiscal, when it earned $3.6 million. Revenues also took a tumble, dropping to $54.9 million from $60.8 million.
TiVo-owned subscription gross additions for the first quarter were approximately 37,000 compared to 48,000 gross additions for the year-ago period. Overall, TiVo-owned subscriptions ended the quarter at 1.6 million. Cumulative total subscriptions -- including deals made with cable operators -- were 3.2 million by the end of April.
During the period, TiVo also announced the launch of a local version of its Stop||Watch ratings service, which tracks the ways that TiVo users watch television shows and commercials that air during the programs. The service will debut this summer.
For its national Stop||Watch service, TiVo said it will be expanding the sample size for the fall TV season -- from 100,000 to 300,000 TiVo subscribers. The company says that's 75 times larger than other existing DVR audience research sample sizes.
As previously announced, TiVo said its deal with Blockbuster will add digital movie titles to its existing content later this year. Blockbuster will also sell TiVo DVRs at its stores nationwide as well as online.
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