TiVo Drew 95% of Q3 Revenue From Software, Services, Ads, Licensing, Says CEO

As a company, TiVo, since its $1.1 billion acquisition by Rovi in September 2016 (see 1609080007), “has moved well beyond” being a supplier of consumer hardware “and is now an innovative entertainment technology company,” said CEO Tom Carson on a Thursday earnings call. “To that point,” 95 percent of TiVo’s Q3 revenue “came from software, services, advertising and licensing,” Carson said. For example, TiVo “processes TV viewership data” for more than 25 million U.S. homes, he said. “We have obtained rights to millions of TV households for anonymous, de-identified third-party use and we’re seeing strong demand for our TV data platform offering,” he said. “We expect this offering to continue to grow” as the company adds more households, he said. TiVo soon will also roll out “an innovative new interactive advertising service,” he said. “This solution will be available to customers that use the TiVo user experience or our search and recommendation product to allow more targeted and personalized promotions. Our continued advancements in data, advertising and search and recommendations are key areas of innovation, which we believe will drive future growth for our software and services business.”