New License Deal Spurs TiVo
Nov 22, 2002, 12:00 AM
PVR manufacturer and licensor TiVO posted huge increases for Q3. Service and technology revenue for the quarter grew 139% to $12.7 million, compared to $5.3 million for the same period last year. Other highlights of the quarter included an increase in the subscriber base to 510,000, the addition of Toshiba to the company's list of licensing partners, and the addition of Circuit City to the growing list of retailers now offering TiVo products. During the period, TiVo added 46,000 net new subscribers, bringing the total subscriber base to approximately 510,000. Compared to the third quarter of last year, TiVo's subscriber base has grown over 80%. TiVo announced last week that Toshiba has become the latest technology licensee.