Digital video recorder maker TiVo Inc. Friday said it added 698,000 subscribers in its fiscal fourth quarter, bringing its total to over 3 million.
Feb. 19, 2005, 1:24 AM UTC / Source : ReutersDigital video recorder maker TiVo Inc. Friday said it added 698,000 subscribers in its fiscal fourth quarter, bringing its total to over 3 million.
The Alviso, California-based company said it added 447,000 customers through satellite television provider DirecTV Group Inc., and 251,000 "TiVo-owned", or stand-alone, users in the period ended on Jan. 31.
The stand-alone users, who typically buy a TiVo DVR at a retail store and pay about $13 a month for the service, typically generate far more profits for the company than do the DirecTV users.
TiVo, which has been criticized by analysts for not growing more quickly the "TiVo-owned" users, earlier this month stood by an estimate that it added 200,000 to 275,000 stand-alone subscribers in its fiscal fourth quarter. In November, TiVo had said it expected a total of 575,000 to 700,000 new subscribers in the quarter.
Shares of TiVo rose to $3.89 in premarket trade on the INET electronic brokerage, up from a close of $3.62 on Thursday on Nasdaq.