SAN JOSE, Calif. - TiVo (NASDAQ:TIVO_old) Platform Technologies LLC, a subsidiary of Xperi (NASDAQ:ADEA) Inc. (NYSE: XPER), has announced an expansion of its TiVo Broadband service, doubling its operator partnerships and enhancing its TiVo+ channel offerings. The service, which caters to broadband-only customers, now boasts ten operators, with a recent addition of five new partners.
TiVo Broadband, utilizing the TiVo IPTV Platform, is designed to simplify the TV viewing experience by addressing the challenges of content fragmentation. It offers an operator-branded solution that integrates free ad-supported streaming TV (FAST), advertising-based video on demand (AVOD), over-the-top (OTT), live TV, and a selection of subscription video-on-demand (SVOD) channels.
The expansion of TiVo+ includes the addition of over 200 FAST channels in the United States, emphasizing local news with more than 100 dedicated channels. The update also brings an increased number of Spanish-language programs, Black entertainment, classic TV, westerns, and sports channels including tennis, boxing, MMA, and cornhole.
This growth in content offerings is partly due to strategic partnerships, such as one with Plex, to enhance monetization opportunities for FAST channels. These collaborations aim to boost viewership and create new revenue-sharing opportunities between content providers and operators.
Bill Routt, senior vice president of global sales at TiVo, highlighted the importance of offering streaming technology solutions to operators, especially as traditional video tier costs rise. Geoff Shook, president of Buckeye Broadband, one of the operators utilizing TiVo+, expressed the benefit of offering additional video programming as a value-add to their high-speed data (HSD) customers, something he notes is not available from wireline competitors.
TiVo Broadband's key features include a visually-rich user interface for personalized content recommendations, a unified streaming experience with flexible content options, and seamless integration with existing broadband infrastructure for easy deployment.
The expanded content offering and operator partnerships underscore TiVo's commitment to providing innovative solutions for streaming services and personalized content offerings. This announcement is based on a press release statement from Xperi Inc.
In other recent news, Xperi Holding Corporation disclosed its Q2 2024 financial results, emphasizing a strategic focus on growth. The technology company reported a slight year-over-year decrease in revenue but a notable increase in adjusted EBITDA, which nearly tripled from the previous year. Xperi's strategic initiatives, including connected TV advertising, in-cabin entertainment, and TiVo video-over-broadband, are anticipated to significantly boost revenue by 2026.
The company's Q2 revenue was approximately $120 million, a 1% sequential increase but a 2% decrease year-over-year. Adjusted EBITDA reached $15 million, reflecting a significant increase from the previous year. Xperi's future growth is expected to be driven by key areas such as connected TV advertising, in-cabin entertainment, and TiVo video-over-broadband.
Despite a 40% drop in consumer electronics revenue and a 25% decrease in media platform revenue, Xperi saw a 41% increase in Connected Car revenue and a 5% growth in Pay TV revenue. The company anticipates a recovery in consumer electronics revenue and growth in the media platform business by 2025. These recent developments highlight Xperi's strategic focus on areas that promise substantial growth and shareholder value.
InvestingPro Insights
As TiVo Platform Technologies LLC scales up its TiVo Broadband service, its parent company Xperi Inc. (NYSE: XPER) has been navigating through a challenging market environment. According to InvestingPro data, Xperi's market capitalization stands at 345.84 million USD, reflecting the size and investment scale of the company. Despite facing a negative revenue growth of 0.94% over the last twelve months as of Q2 2024, Xperi maintains an impressive gross profit margin of 76.55%, indicating robust profitability on the cost of goods sold.
InvestingPro Tips highlight that while Xperi operates with a moderate level of debt, which could offer some financial flexibility, analysts have recently revised their earnings expectations downwards for the upcoming period. This may be a point of consideration for investors looking at the company's future performance. However, it's worth noting that analysts also predict the company will be profitable this year, providing a potential upside. Moreover, Xperi's liquid assets exceed its short-term obligations, suggesting a healthy liquidity position that supports its operational needs and expansion efforts like those seen with the TiVo Broadband service.
For investors interested in a more comprehensive analysis, there are additional InvestingPro Tips available at https://www.investing.com/pro/XPER, which could provide deeper insights into Xperi's financial health and market potential.
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