To say TiVo (Nasdaq: TIVO) is embattled would be like saying Custer was a bit overwhelmed at the Battle of the Little Big Horn. The DVR originator is in an ongoing legal fight with Dish Network (Nasdaq: DISH) (some days it's winning, some days it's losing, depending on the court); it's being sued by Motorola Mobility; and now, according to fourth quarter and year-end earnings results, it's losing customers and money.
TiVo said it has only two million customers left after another 222,000 hit the road in the fourth quarter. In addition to that, the company said its subscriber acquisition costs rose 42 percent and its monthly churn was 3 percent. Still, with a new deal with Charter Communications (Nasdaq: CHTR) joining existing distribution deals with Virgin Media (Nasdaq: VMED), RCN (Nasdaq: RCNI) and Suddenlink, TiVo President-CEO said the tide could be turning.
"It's hard to replicate what TiVo is doing," Rogers said in a company news release, further claiming that changes within the company's product line and relationships have "opened up a path to potentially gain significant subscribers over the next several years."
For now, TiVo reported a net loss of $34.4 million compared to $10 million on revenues that were down to $41.4 million from $45.3 million last year.
- see this news release
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