TiVo is continuing to review strategic options for the future of the company and expects to provide an update by the end of the second quarter, according to CEO Enrique Rodriguez.
Speaking to analysts after the company posted its Q1 results, Rodriguez said that this would be “a transformational year for TiVo”, with emerging markets including virtual service providers, content and new companies and advertisers driving growth.
Rodriguez said that TiVo would launch a new advertising product, Sponsored Discovery, this quarter. This will enable entertainment service marketers to promote shows and films to a targeted audiences via a recommendation carousel. TiVo is also able to to help advertisers reach targeted audiences via the use of anonymised user data matched with third-party behavioural, demographic and purchase data.
Rodriguez also highlighted the success of TiVo’s new Experience 4 content discovery platform and namechecked Washington DC overbuilder RCN’s as the first IPTV service provider to deploy TiVo on an Android TV platform.
Rodriguez also said that TiVo had now completed its exit from the service provider hardware business as it focused on licensing its IP going forwards.
TiVo posted revenues of US$190 million (€160 million) for the quarter to March, down 7.7%, driven by a decline in licensing of legacy technology and hardware, and adjusted EBITDA of US$59 million, down from US$68.2 million.