Subs Up at TiVo; So Is Net Loss8/26/2004 9:55 AM Eastern
TiVo Inc.'s net loss widened to $10.8 million in the second quarter of 2004 as increased marketing spending produced strong subscriber growth of 288,000 but boosted the company’s quarterly net loss from $4.4 million in the year-earlier period.
TiVo said 225,000 of the 288,000 additions came from DirecTV Inc. More than one-half of DirecTV's direct-broadcast satellite subscriber additions in the quarter took TiVo digital-video-recorder service.
TiVo said it now serves 1.9 million subscribers, with more than 1 million coming from DirecTV.
The DVR vendor said it expects to add 340,000-400,000 subscribers in the current third quarter, with DirecTV accounting for 240,000-280,000.
TiVo said revenue hit $24.3 million in the quarter versus $13.8 million in the year-ago period.