In a big thumbs-up to its shareholders, TiVo (NASDAQ:TIVO) has been making significant announcements right and left lately. Earlier this week, it rolled out its important new service TiVoCast, which offers users an easy way to access Web content through their TiVo boxes.

We'd recently learned that TiVo was partnering with Brightcove to bring a large array of Internet-based content to users' TVs. So far, content is available from entities like iVillage, New York Times (NYSE:NYT), and the NBA.

Given the TiVoCast launch, I was compelled to dig a little deeper into my own TiVo than my usual Now Playing List. First, I went to TiVo's infomercial-like piece explaining its new Product Watch category (which includes ways to not only view targeted ads, but also to view content from your computer, like music or photos). The TiVo infomercial struck me as half retro-cheesy, half surrealistically disturbing, and I found it interesting that it endorses Best Buy's (NYSE:BBY) Geek Squad as a good way for TiVo users to have someone else connect their boxes to their home networks.

I then moved right along to the featured TiVoCast clip -- an NBA video, preceded by an ad for Coke's (NYSE:KO) Sprite. That, of course, is part and parcel of the money-making potential behind this new product -- the ability to weave in increased opportunities for advertising that viewers will actually watch.

There's something wickedly clever about TiVo creating a problem (viewers fast-forwarding through ads), then providing the solution (a better, more intelligent TV advertising platform). This Motley Fool Stock Advisor pick's foray into targeted advertising is the big reason why some Fools have suggested that Google (NASDAQ:GOOG) might be a prime candidate to look at TiVo with acquisitive intent.

While TiVo's initial success made it clear that consumers increasingly view advertising with ire, I do think some of that negative reaction should be mitigated by the ability to choose commercials they're actually interested in. Regardless, the days where passive consumers were simply subjected to advertising appear to be nearly over. And while I dug deeper into the capabilities my own TiVo box was hawking, including bringing Web video to TV sets with the click of a button, I knew one thing for certain: TiVo's once again doing what it does best, bringing about change and innovation. Investors should hope that this round goes better than the last, of course, since TiVo's rivals certainly don't want to give it competitive advantage.

TiVo and Best Buy are Motley Fool Stock Advisor picks. Coke is a Motley Fool Inside Value selection. Take the newsletter that best fits your investing style for a 30-day free spin.

Alyce Lomax does not own shares of any of the companies mentioned.