TiVo today announced yet another new IP licensing extension, this one with LG Electronics.
The agreement expands on a previous patent agreement with the Rovi side of TiVo’s business, adding patents that fall under the legacy TiVo umbrella.
“Our licensing agreement with LG further solidifies our long-term partnership with them,” said Arvin Patel, executive VP and chief IP officer, TiVo, in a statement. “We are thrilled to be working with a leading consumer electronics brand and are excited to help further enhance their customers’ ability to discover and enjoy entertainment content on multiple devices.”
Related: TiVo Extends Patent Deal with Canada’s Shaw
The announcement came one day after TiVo touted a new extension with Canadian cable company Shaw Communications. Notably, Shaw licenses the X1 video platform from Comcast, which is currently battling TiVo in more than half a dozen venues over IP licensing.
TiVo is currently looking to split its IP licensing business from its products business. The former saw revenue drop 8% in the first quarter to just over $66.9 million. IP licensing revenue from consumer electronics makers like LG Electronics was down only 4% to $8.6 million, and revenue from international constituents was up 15% to nearly $16.2 million.
But the TiVo/Rovi patent business continued to struggle with domestic pay TV operators—the biggest segment of the company’s IP licensing operation. Revenue from this sector was down 16% year over year to $42.1 million.
TiVo attributed $8.9 million of the Q1 drop to the “expiration of legacy Time Warp agreements.”
