Comcast and TiVo Announce a Strategic Partnership
Multi-Year Agreement to Make the TiVo Service Available to Comcast Customers
Comcast (Nasdaq: CMCSA), the nation's leading provider of cable, entertainment and communications products and services, and TiVo Inc. (Nasdaq: TIVO), the creator of and a leader in television services for digital video recorders (DVRs), today announced that the companies have reached an agreement to make the TiVo� service and advertising capability widely available to Comcast customers in the majority of its markets around the country.
Under the terms of the agreement, Comcast and TiVo will work together to develop a version of the TiVo service that will be made available on Comcast's current primary DVR platform. New software will be developed by TiVo and will be incorporated into Comcast's existing network platforms. The new service will be marketed with the TiVo brand, and is expected to be available on Comcast's DVR products in a majority of Comcast markets in mid-to-late 2006.
This long-term, non-exclusive partnership will provide millions of Comcast customers with the opportunity to choose the TiVo service, including TiVo's award-winning user interface and features like Season Pass(TM) and WishList(TM), as an additional option. In addition, the service will showcase TiVo's home networking, multimedia, and broadband capabilities.
"We are focused on providing our customers with a 21st Century television experience. TiVo has revolutionized the way consumers watch and access home entertainment. By partnering with TiVo, we are continuing to deliver technology that enables our customers to watch what they want when they want on TV. This agreement also reflects our commitment to work with leading technology providers to offer customers more value and choice in their home entertainment experience," said Brian Roberts, Chairman and CEO, Comcast Corporation. "Customers love the ease and convenience of our current DVR service, and we look forward to working with TiVo to enhance that service and offer customers the best-in-class DVR experience."
"We are very excited that we will be able to offer TiVo to our customers along with our Video On Demand, High Definition and other premium services that add such great entertainment value. The strong TiVo brand, the clear track record of customer loyalty it has and its cutting edge features make this a terrific partnership and exciting new product for Comcast," added Steve Burke, president of Comcast Cable and COO of Comcast.
"The chance to combine TiVo's unmatched DVR features and innovative advertising capabilities with the power of Comcast's advanced digital television services presents tremendous opportunities," said Mike Ramsay, Chairman and CEO of TiVo. "Broad deployment to millions of Comcast homes nationwide will enhance TiVo's recurring revenues. Together, both companies will work to offer customers the best and most convenient premium television service."
"It is very important that TiVo has found a way to work with the nation's largest cable operator on a cooperative basis to develop a state-of-the-art TiVo Service, fully integrated with a cable set-top box, that will make TiVo available to millions of cable viewers. By making TiVo available, Comcast once again shows that it is leading the way in providing advanced digital services, such as video-on-demand, to television viewers. This is a real milestone for TiVo and for the cable industry, but most importantly it is a milestone for television viewers," said Tom Rogers, vice chairman of TiVo.
As an extension of the relationship, TiVo and Comcast will make TiVo's interactive advertising platform available across Comcast's customer base without interrupting the award-winning TiVo subscriber experience.
Financial terms of the deal were not disclosed.
About Comcast
Comcast Corporation (Nasdaq: CMCSA) is the nation's leading provider of cable, entertainment and communications products and services. With 21.5 million cable customers and 7 million high-speed Internet customers, Comcast is principally involved in the development, management and operation of broadband cable networks and in the delivery of programming content.
The Company's content networks and investments include E! Entertainment Television, Style Network, The Golf Channel, Outdoor Life Network, G4, International Channel Networks, TV One and four Comcast SportsNets. The Company also has a majority ownership in Comcast-Spectacor, whose major holdings include the Philadelphia Flyers NHL hockey team, the Philadelphia 76ers NBA basketball team and two large multipurpose arenas in Philadelphia.
About TiVo Inc.
Founded in 1997, TiVo, a pioneer in home entertainment, created a brand new category of products with the development of the first digital video recorder (DVR). Today, TiVo continues to revolutionize the way consumers watch and access home entertainment by making TiVo DVR the focal point of the digital living room, a center for sharing and experiencing television, music, photos and other content. TiVo connects consumers to the digital entertainment they want, where and when they want it. TiVo is based in Alviso, California.
