TVNZ stands by TiVo

TVNZ has vowed to stand by TiVo despite the platform’s failure to perform in the New Zealand market.

The broadcaster was forced to write off losses on TiVo, a digital recording platform billed as a rival for MySky, as six-month profits to December failed to match that of the same period the previous year.

$9.4 million was written off by TVNZ for the purchase of TiVo as well as an additional $5.4 million in investments.

TVNZ chief executive Rick Ellis said the write-off will not affect TiVo users in NZ or its operation. He stands by the platform despite its performance. 

“At the time we went into it we thought it was strategically important to drive the uptake of digital TV,” he said.

“We’ve been caught by the dynamic changes in the marketplace – there had been an avalanche of new competitors in the Australian market, which had forced TiVo to reduce its prices.”

Source: Herald

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