Virgin Media picks up 206,000 TiVo subscribers in Q3 2012
British cable MSO Virgin Media (Nasdaq: VMED) said it deployed TiVo (Nasdaq: TIVO) DVRs to 205,900 subscribers during the third quarter, growing the total number of subscribers who use TiVo to 1.14 million.
In 2010, Virgin became one of the first pay TV providers to market TiVo's DVR and user interface to subscribers. The company said Tuesday that about 30 percent of its pay TV subscriber base now use TiVo DVRs as their primary set-top.
TiVo has had success in the United States striking deals with several mid-sized cable MSOs that have agreed to market the TiVo Premiere DVR to subscribers, including Mediacom Communications, Suddenlink and Midcontinent Communications. It also has a deal with Comcast (Nasdaq: CMCSA) which enables Comcast subscribers in San Francisco and several other markets who buy a TiVo Premiere DVR in retail outlets to use the set-tops to access its Xfinity On Demand lineup.
Virgin said it gained 39,500 net cable subscribers during the third quarter, compared to net subscriber additions of 6,300 this time last year. It generated £1.02 billion ($1.62 billion) in revenue during the third quarter, up 2.8 percent compared to 2011. Virgin posted £124 million ($197.5 million) in net income, compared to a net loss of £74 million ($117.8 million) during the same period last year.
- see the earnings release