TiVo, Comcast Ink DVR Deal
March 18, 2005
In an effort to regain its leadership in the DVR market, TiVo has teamed up with Comcast to provide a customized version of its video recording technology.
The agreement sent TiVo shares skyrocketing; although the company's name is synonymous with the increasingly popular DVR, the company has suffered in recent years due to competition from satellite and cable operators that manufacture their own DVRs.
According to the agreement, TiVo will revise its software to work in Comcast DVRs. The machines will bear the TiVo brand and the new service should be available to Comcast subscribers in mid-to-late 2006. Comcast subscribers--which until now have used Comcast's proprietary DVRs will be able to access popular TiVo features including Season Pass and Wish List. TiVo will continue marketing its own standalone DVR as well.
"By partnering with TiVo, we are continuing to deliver technology that enables our customers to watch what they want when they want on TV," said Brian Roberts, chairman/CEO, Comcast.
Financial terms of the multi-year deal were not disclosed.