TiVo's quest to establish a foothold in a global TVOS business dominated by streaming giants marched on in the first quarter, with the video company adding a sixth smart TV OEM partner, an unnamed Japanese brand, and looking to expand into 2 million active TVs globally by the end of the year.
Reporting Q1 earnings Thursday, TiVo parent company Xperi Corp. also said that it's on track to expand the TiVo smart TV OS platform into the U.S. by the end of 2024. (Here's Xperi's earnings release.)
Also read: Xperi CEO's Bold Declaration: TiVo OS Will Power 7 Million Smart TVs By 2026
First-quarter revenue for Xperi's "Media Platform" quadrant was up 25% year over year to $11.562 million.
Xperi and its TiVo brand are trying to infiltrate a global software business dominated by Roku, Google, Amazon and Samsung, offering smart TV OEM brands an operating system that gives them more control over branding, not to mention advertising transactions that occur across their devices.
Xperi confirmed Thursday that European retailer Argos is now selling TiVo-powered smart TVs under its Bush house brand. Vestel, meanwhile, is shipping smart TVs "powered by TiVo" into "most major European countries" under at least a dozen brands.
Overall, Xperi reported a 6% year-over-year decline in quarterly revenue to $119 million, with sales from its pay TV sector dropping 6% to $56.806 million in Q1. With the help of its new "Video Over Broadband" initiative, Xperi expects pay TV to be even by the end of the year.
