TiVo said it expects to complete its strategic review by its fourth quarter and year-end 2018 earnings call and set out plans for a new entertainment discovery platform.
“In our products area, we have a number of initiatives we are excited about and believe are key to driving growth,” said Rau. “While we will provide more information in the future, we began investing in a new opportunity that combines our expertise in pay TV and OTT to build a unique entertainment discovery platform for the internet age.”
“The platform will enable end-users to experience content from leading digital brands integrated with live, recorded and OTT streaming titles. We are re-imagining the guide as one integrated content network that allows you to access all of the content you want to watch seamlessly. We believe this product has the potential to change how you watch TV again.”
TiVo said that this unified discovery experience and content network will enable high-value targeted advertising opportunities for TiVo – including sponsored discovery, content merchandising, display promotions, in-stream advertising and DVR ad replacement.
On the IP licensing front, Rau said TiVo continues to focus on growth opportunities in international markets and with content providers, adding that there is a “meaningful opportunity” to grow this business in markets like Canada, Asia and Europe where already has licensing deals in place.
In a statement published alongside the company’s results, Rau said: “I am excited about the prospects of the business and the strategic initiatives we are undertaking, including moving to more transactional models, to drive long-term profitable growth.”
For the three months ending September 30, TiVo reported a 17% year-on-year decline in net revenues at US$165 million. Its operating loss widened to US$7.7 million, compared to a loss of US$1.6 million a year earlier.
In August TiVo said it is not looking to make a major acquisition as part of its ongoing strategic review, and instead highlighted the value of its product and IP licensing businesses.
TiVo first announced in February that it had started to evaluate a “wide range of strategic alternatives” in an effort to achieve long-term value for shareholders.
TiVo board member Rau was appointed president and CEO in July after former TiVo boss Enrique Rodriguez resigned to become chief technology officer at Liberty Global in Europe, one of TiVo’s long-time global customers.
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22nd February 2020