TiVo Stock Soars After Strong Holiday Sales of Premiere DVR Box
Company CEO Tom Rogers projects that box's Flash-based technology will spur the development of popular apps.
As TiVo prepares at CES to show off its Premiere DVR box that acts like a gateway and organizer of digital content that goes way beyond mere television shows, it's CEO talked up the product and the company's stock advanced 9%.
TiVo CEO Tom Rogers, speaking Wednesday at the Citi Global Entertainment Media Telecom Conference in Phoenix, said that Christmastime sales of its broadband-connected Premiere box "were nicely up from last year."
TiVo is promoting the box, which is free with a two-year subscription commitment at $20 a month, as a media hub that includes YouTube videos and movies and TV shows streamed from Amazon.com and Netflix.
"We find the consumer feedback quite strong," Rogers said, boasting that, because the system is Flash-based, it will spur the development of popular apps.
"It's kind of astonishing," Rogers said, "that the most-viewed screen in the house is so far behind the times in terms of third-party applications."
Shares of TiVo jumped 80 cents Wednesday to $9.85.