TiVo hails Virgin Media partnership
On-demand broadcaster TiVo has hailed its effective partnership with Virgin Media over recent months, as highlighted by a significant growth in subscriptions and earnings.
The company has reported a ten per cent increase in its service and technology revenues year on year during the three months to the end of June, with total subscriptions up by 230,000 during the quarter.
Tom Rogers, president and chief executive of TiVo, said: "Our success in the UK with Virgin Media is a perfect example of how, through TiVo, an operator can clearly set itself apart from competitors and create stickier subscribers."
He added that over the last year there has been considerable growth for the firm's subscriptions, highlighted by Virgin Media subscribers surpassing one million members and the firm's ONO subscribers doubling from the last quarter.
During the second quarter of the year, Virgin Media reported a 3.3 per cent increase in revenue to £1.027 billion.
Net income for the three-month period stood at £65 million, while net cash provided by operating activities was down by 19 per cent to £231 million for the company.