TiVo added 239,000 cable subs in the second quarter

TiVo Bolt (Credit: TiVo)

TiVo continued to aggressively grow its MSO base in the second quarter, even as its retail business shrunk, adding 239,000 cable subscribers during the period.

The data comes courtesy of an SEC 10-Q filing, originally dug up by Multichannel News and tied to TiVo’s advanced merger process with Rovi Corp. The filing covers the fiscal-2017 quarter ended July 31.

With the additions, TiVo now serves 6.68 million MSO subs. It lost 3,000 retail subscribers during the second quarter, bringing its base down to 971,000 in that sector.

TiVo now serves a total of 7.4 million subscribers. 

“The MSO subscriptions lines refer to subscriptions sold to end-users by MSOs such as Cogeco, Com Hem, Mediacom, Vodafone Spain (ONO), RCN, Suddenlink, and Virgin, among others, and for which TiVo expects to incur little or no acquisition costs,” TiVo said in its filing.

TiVo said it added roughly 1.3 million MSO subs in the 12-month period from July 31, 2015.

TiVo posted a 9.8 percent decline year-over-year in revenue at $107.66 million, but net income was up 59.2 percent to $13.38 million. TiVo attributes this financial dynamic to its transition from hardware manufacturing to service and software orientation. 

Rovi has said that it expects its $1.1 billion acquisition of TiVo to close Sept. 7.

For more:
- read this TiVO SEC filing
- read this Multichannel News story

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