Xperi Boosted by IPTV Growth
Xperi’s Q1 revenue of $221.6 million included $98 million in IP revenue, with 30% from media IP, said CEO Jon Kirchner on a Wednesday call. The increase in media IP revenue reflects a “step-up” in baseline IP receipts from a…
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Comcast license, and “significant momentum” in license renewals with companies including Cox, Sony and TCL, Kirchner said. Xperi renewed a pact with Frontier, he said. Content is key to growing the Imax Enhanced ecosystem, said Kirchner. Subscriber churn in pay TV contributed to a 13% decline in product revenue , said Kirchner. In Consumer Experience, revenue was $51.3 million, down 19% year over year. Pay-TV revenue fell 16% to $52.3 million and declined 6% sequentially due to subscriber churn “consistent with industry trends and a shift in revenue allocated under our customer contract in favor of the IP business,” Kirchner said. Xperi expects subscriber declines in its legacy business to be partially offset by increasing average revenue per users as the business shifts to IPTV. Demand for the TiVo IPTV service grew 100% on a “small, but rapidly growing base.”