November 4, 2003 - SAN JOSE, CA – TiVo (NASDAQ: TIVO), creator of television services for digital video recorders (DVRs), announced today it has surpassed the one million subscription milestone and expects surging momentum to result in the best holiday season in the company's history.
"Reaching one million subscriptions is a major milestone for our company," said Michael Ramsay, CEO of TiVo. "Thanks to the increased growth of both our standalone subscriptions and, especially, growth with DIRECTV, we have reached this milestone ahead of plan. We expect this momentum to continue and look forward to the biggest holiday season ever for TiVo."
Originally offered to consumers in a single set top box, TiVo is now available in a dozen products manufactured by more than eight leading consumer electronic companies. Toshiba and Pioneer have paired TiVo with DVD, and leading satellite company DIRECTV offers four different integrated tuners with TiVo.
"TiVo remains the brand of choice among consumers in the DVR category," Ramsay said. "It is extremely rewarding to see our customers' widespread enthusiasm for the TiVo service and the unique television viewing experience it offers. And this strong brand awareness, coupled with our leading technology position, have been key factors in building partnerships with leading consumer electronics companies and with DIRECTV, driving our audience to this new level of critical mass."
TiVo is giving shoppers the ultimate in choice this holiday season — choice in models, pricing and service offerings. The standalone TiVo Series2 is available at a retail price as low as $199 after a $50 mail-in rebate. And consumers can choose from the widest array ever of products with TiVo on board, including new DVD products from Toshiba and Pioneer and new TiVo integrated products from DIRECTV.
In addition to lots of new TiVo products this holiday season, consumers will find they can get more entertainment fun than ever out of the TiVo Series2. A simple upgrade to the Home Media Option gives expanded capabilities like scheduling recordings on the Internet or viewing family photos on the television. And for the first time, gift givers can purchase TiVo service gift subscriptions in three, six, 12 month, or product lifetime packages so gift recipients can immediately immerse themselves in the TiVo experience.
TiVo is also available at more major retailers this holiday season than ever before. TiVo retail partners include Best Buy, Circuit City, Tweeter, Good Guys, Ultimate Electronics and Amazon.com. TiVo Series2 can also be purchased directly at www.tivo.com.
Founded in 1997 with the mission to dramatically improve consumers' television viewing experiences, TiVo is the creator of television services for digital video recorders (DVRs). TiVo's leadership has defined and inspired the entire category, earning the company patents for pioneering inventions associated with DVR software and hardware design. TiVo was the first to deliver on the promise of consumer choice and control over TV viewing, building a loyal and passionate subscription base with over 97% of customers surveyed recommending a TiVo DVR to a friend. With a subscription base of more than 1 million, TiVo reported approximately $103 million in net revenues for the twelve months ending July 31, 2003. The company is headquartered in San Jose, CA. Additional information can be found at www.tivo.com.
This release contains certain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. These statements relate to,
among other things, TiVo's business, services, business development, strategy, customers
or other factors that may affect future earnings or financial results. Forward-looking
statements generally can be identified by the use of forward-looking terminology
such as, "believe," "expect," "may," "will," "intend," "estimate," "continue," or
similar expressions or the negative of those terms or expressions. Such statements
involve risks and uncertainties, which could cause actual results to vary materially
from those expressed in or indicated by the forward-looking statements. Factors
that may cause actual results to differ materially include delays in development,
competitive service offerings and lack of market acceptance, as well as the "Factors
That May Affect Future Operating Results." More information on potential factors
that could affect the Company’s financial results is included from time to time
in the Company’s public reports filed with the Securities and Exchange Commission,
including the Company’s Annual Report on Form 10-K for the fiscal year ended January
31, 2003, as amended, and the Quarterly Reports on Form 10Q for the period(s) ended
April 30, 2003, July 31, 2003, filed with the Securities and Exchange Commission.
We caution you not to place undue reliance on forward-looking statements, which
reflect an analysis only and speak only as of the date hereof. TiVo disclaims any
obligation to update these forward-looking statements.
TiVo, Season Pass, WishList, TiVo Basic are registered trademarks of TiVo Inc. in the United States and other jurisdictions. All other company or product names mentioned may be trademarks or registered trademarks of the respective companies with which they are associated.