TiVo adds another 318K MSO subs in Q4; calls its set-top reform goals 'mischaracterized'

TiVo added another 318,000 subscriptions through cable-operator partnerships in the last quarter, bringing its total MSO reach to 5.47 million.

TiVo ended the three-month period with 6.8 million total subscribers, 971,000 of them coming from devices sold at retail. 

The company recently confirmed that about 50 employees have been laid off, as it turns its attention to its MSO partnerships.

"We have a rapidly growing operator business with highly tangible domestic and international growth opportunities," said Naveen Chopra, interim CEO and CFO for TiVo, running his first quarterly call following the departure of Tom Rogers from the CEO post. 

"Our operator businesses, which include TiVo's traditional MSO products as well as digital Digitalsmiths and Cubiware, exited fiscal year 2016 at $100 million annual run rate on the heels of 59 percent revenue growth in the past year," Chopra added. 

Speaking about the FCC's proposal to revamp regulation of pay-TV set-tops, Chopra said TiVo's agenda in this area has been "mischaracterized" by the media.

"Although we had advocated for a successor to CableCARD for some time, we have not endorsed a specific approach for the FCC to pursue," Chopra said. "We seek national standards for security because it will allow our North American MSO partners to procure set-top boxes from multiple vendors and ensure competitive pricing. It should also reduce the cost of these boxes relative to the current CableCARD-baed solutions. Absent this rule-making process and with the sunset of CableCARD, our MSO customers are at risk of returning to a world of embedded security and limited vendor diversity, which means cost for small and midsized operators would increase."

For more:
- read this Seeking Alpha transcript

Related articles:
TiVo cutting 50 jobs as part of refocus on MSO partner growth
TiVo adds Buckeye to its portfolio of small and mid-sized MSO partners
TiVo joins Charter merger noise bandwagon, cites CableCard concerns