OpenTV Encouraged By 2Q Results
OpenTV reports significant revenue increases – more than 20 percent – in second-quarter 2004, exceeding $19 million as of June 30. The new numbers compare with $15.7 million at the end of second-quarter 2003.
Royalty revenues totaling $5 million came from Sky Italia alone. The Sky Italia contract is really the key for the operator’s improved revenue performance, and the carrier is likely to be one of the fastest growing satellite pay-TV operators in Europe during the next few years as it takes advantage of favorable market dynamics in Italy. Sky Italia added 200,000 subs in the first quarter alone.
The results will be a boost for new OpenTV CEO James Chiddix, who took over from James Ackerman earlier this year. The middleware and pay-TV solutions provider has to compete against the likes of News Corp-owned NDS, and Microsoft TV in this arena, so competition is tough.