TiVo swung to a first quarter profit as the DVR pioneer and video software company set a record by signing on 341,000 subscribers through pay-TV partnerships, enough to nudge its total sub base past 4.5 million for the first time.
TiVo’s MSO sub base grew 9% sequentially, and 23% year-over-year. Its latest MSO sub record surpassed the one announced in January, when TiVo said it added 313,000 subs in the category during its fiscal fourth quarter.
During the quarter, TiVo had 32,000 TiVo-owned gross additions, paired with a net loss of 9,000 TiVo-owned subs. As of April 30, TiVo had 3.58 million subs through MSO partnerships, and 957,000 TiVo-owned subscribers. The company said the number of TiVo-owned gross additions, which grew 33% year-over-year, was its best result in the category in four years.