TiVo pacts with Disney
Subscribers can rent titles directly from their TVs
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Under the pact with Disney-ABC and CinemaNow, unveiled hours before the company issued better-than-expected fiscal first-quarter earnings, TiVo users will be able to rent pics for a 24-hour period starting later this year.
TiVo partnered with Amazon's Unbox service on movie rentals and purchases last year and recently inked a deal enabling subscribers to access YouTube videos on its digital video recorders this summer.
Disney-ABC Domestic Television's pay TV and interactive media division distributes movies domestically from studio labels and licenses pics for a variety of platforms, including cable, satellite and mobile.
TiVo earnings more than tripled to $3.6 million for the quarter ended April 30, up 336% from $835,000 in the year-earlier period, on lower marketing and research costs. Revenue declined 5.5% to $54.9 million on fewer subscribers -- 3.8 million, down 11.6% from 4.3 million a year earlier.
TiVo projected a net loss of $2 million-$4 million in the current fiscal quarter. Shares closed down 1.9% to $8.10 at the end of market trading.
