TiVo Subscription Base Exceeds 3 Million
TiVo announced that as of January 31, 2005, its subscription base exceeded 3 million.
TiVo added approximately 698,000 total net subscriptions during its fourth quarter ended January 31, 2005, including approximately 251,000 TiVo-Owned subscriptions and 447,000 DIRECTV with TiVo subscriptions.
“Last year, we launched an aggressive growth plan that included increasing our subscription acquisition spending to grow our base, strengthen our market position, and fuel our recurring revenue model,” said Mike Ramsay, TiVo’s Chairman and CEO. “We accomplished our goal of doubling our sub base to over 3 million subscriptions.”
According to an article from The Street,
“TiVo shares have been hammered over the last year, falling from about $12 to a Thursday close of $3.62. Bears on the stock say the TiVo DVR is threatened by competing recorders, particularly those sold by cable and satellite television companies. The company is currently searching for a successor to CEO Mike Ramsay and President Marty Yudkovitz resigned three weeks ago.”
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