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Virgin Media helps TiVo keep the wolves from the door
# 28 February 2012, 13:53 by Chris T
TiVo says sales in Europe – including through Virgin Media in the UK – helped it avoid making a loss over the last financial year.
The PVR specialist sells set-top boxes direct to consumers in some markets but has a deal to supply its operating software to VM, and Ono, Spain’s largest cable operator.
TiVo Chief Executive Tom Rogers said: “Our very successful deployment with Virgin Media continues to grow.
“During the quarter ended December 31, 2011 we added 270,000 new TiVo subscriptions, bringing the total number of Virgin Media TiVo subscriptions to 435,000.
“This is the third straight quarter we’ve seen significant subscriber growth from Virgin, a development that we believe is key to driving higher customer satisfaction and improved metrics for Virgin as well.”
Tivo reported net income of USD102.2 million for the year, compared with a loss of USD84.5 the year before.