Service and technology revenues rose 6% to hit $58.1 million, and the company attracted 57,000 gross subscriber additions for the period. That's less than the 91,000 that were landed a year ago, but I couldn't be happier. TiVo is doing it right this time -- reducing hardware subsidies and raising DVR prices. There's no shame in applauding slower growth if it means TiVo is finally starting to think like a profitable company.
The new "My TiVo Gets Me" ad campaign rolled out earlier this month, differentiating TiVo from the cluttered sales floor of marked-down generic competitors. The ramped-up marketing budget will translate into a small loss for the current quarter, but I'm OK with that. These are the seeds that will set TiVo apart, especially as we head into the holiday season.
TiVo has never had a problem striking deals. Whether it's the Unbox deal with Amazon.com
A few years ago, bears figured that TiVo was toast after longtime partner DirecTV
If rivals start showing TiVo-esque personality -- like EchoStar
TiVo is doing it right, so you'll have to excuse me when I get a bit animated as I see one of the antenna-donning characters in the "My TiVo Gets Me" spots announce the new mantra.
"My TiVo Gets Me," he'll say.
"Finally," I add.
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Longtime Fool contributor Rick Munarriz does love his TiVo and he does own shares in TiVo. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.