TiVo subscriptions up by 30%

TiVo now claims 5.5 million total subscriptions, up 30% year-on-year thanks in part to a 40% increase in multiservice operator (MSO) numbers.

Announcing its fourth quarter and fiscal full year results for the period ending January 31, TiVo said that total TiVo subscriptions now stand at almost 5.5 million, nearly 1.3 million more than at this time last year.

“In the fourth quarter, we posted MSO subscription net additions of 324,000 and positive TiVo-owned net additions of 16,000, our strongest TiVo-owned net additions seven years,” said TiVo president and CEO Tom Rogers.

TiVo reported total subscriptions of 5.47 million as of January 31, up from 4.21 million a year earlier. This consisted of 4.53 million MSO subscriptions and 944,000 TiVo owned subscriptions.

“The nearly 1.3 million MSO subscription additions we delivered in fiscal 2015 are an improvement from fiscal 2014, underscoring the strength of our domestic and international operator partnerships,” said Rogers.

“Additionally, the 29% sequential increase in MSO revenue in the fourth quarter helped almost double fiscal year 2015 MSO service revenue compared with fiscal year 2013.

TiVo earlier announced an expansion of its deal with Vodafone in Spain to upgrade its platform for cable unit ONO.

TiVo said that it expects “significant growth” going forward as early phase relationships scale and as it forms new distribution relationships.

“During the quarter we made significant strides building new distribution relationships and expanding existing ones, including announcements with Frontier and Vodafone/ONO,” said Rogers.

Overall for the quarter, TiVo reported net revenues of US$114 million (€102 million), compared to US$106 million a year earlier. Adjusted EBITDA was US$24.2 million, up 24% year-over-over, and net income was US$7.1 million, both exceeding guidance.