TiVo unveils upgraded TV recording device
LAS VEGAS, Jan 8 (Reuters) - TiVo Inc. (NasdaqNM:TIVO - news) on Tuesday unveiled a new version of its set-top box that gives users improved options for digital television recording, and the ability to access services such as music, video-on-demand, and games via high-speed Internet connections.
The San Jose, California-based company said its TiVo Series2 DVR (digital video recorder) offers more recording capacity at a lower cost, with up to 60 hours of recording time.
TiVo's????y powers a personal video recording service that allows viewers to record shows on a hard drive for playback at a later time. The technology also tracks users' preferences so TiVo can suggest other programming.
The current generation of devices are manufactured by Philips Electronics , Sony Corp. and Hughes Electronics Corp. (NYSE:GMH - news), a unit of General Motors Corp (NYSE:GM - news) . TiVo Chief Executive Mike Ramsay said Solectron Corp. (NYSE:SLR - news) would make the Series2 boxes, but that the company would continue to support the older boxes.
``This is the first time we are launching a product that is TiVo-branded,'' Ramsay told Reuters at the Consumer Electronics Show in Las Vegas, where the box was being unveiled.
Ramsey said that while TiVo would sell some Series2 devices now on its Web site, the majority of the boxes would be available at retail closer to the 2002 holiday season. Asked if there would be a Series2 box for the holidays manufactured by Sony or Philips, Ramsay declined to comment.
TiVo, which derives its revenues from customers who sign on to its subscription service, and from software licensing, said a Series2 recorder that can record up to 40 hours of content will sell for about $300, while a 60-hour unit will go for around $400. Currently, a first-generation TiVo-powered box built by Philips sells for some $600 on TiVo's Web site.
SEEK Do???nd difficulty spreading the gospel of digital TV recording.
Still, TiVo claims some 280,000 subscribers as of Oct. 31, and indications are that TiVo devices sales were strong during the recently ended holiday season. Experts say further licensing deals and content collaborations will likely draw in subscribers.
TiVo's faces stiff competition in the DVR arena, including UltimateTV, developed by software behemoth Microsoft Inc., ReplayTV, made by SONICblue, the consumer electronics maker which has sued TiVo claiming patent infringement.
In an effort to woo new users, TiVo added features and prospect of content offering with the new model. TiVo Series2 has two USB expansion ports, providing easy connectivity with peripheral devices, such as digital cameras, MP3 or CD players.
Earlier on Tuesday, in conjunction with the Consumer Electronics Show in Las Vegas, RealNetworks said it would include its software for playing video and audio over the Internet in TiVo DVRs. TiVo users will be able to manage their music collections on TiVo's hard disc and also download and listen to music.
In addition, personal computer game maker Jellyvision, said it will work with TiVo to create ``video party games'' that will run on TiVo Series2. Further Radiance Technologies Inc. will include technology in he TiVo box that will integrate into the TiVo's platform an Internet Video-on-Demand application.
``From TiVo's inception we've known that delivery of music, photos and games would be a natural extension to the easy to use DVR service TiVo offers today,'' TiVo's Ramsay said in a statement.
TiVo subscribers with TiVo Series2 DVRs will be able to sign up for the new services from RealNetworks and Jellyvision by the 2002 holiday season.
TiVo shares closed up 99 cents, or 15.7 percent, at $7.29, its highest level in 5 months, on Nasdaq.
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