TiVo Corp (NASDAQ: TIVO) announced from the 2020 Consumer Electronics Conference the launch of its new streaming video platform called TiVo Stream 4k.
TiVo said its new streaming platform will combine live TV and Cloud DVR capabilities from the Sling TV app. The new platform will also integrate with existing online video services, including Netflix, Inc. (NASDAQ: NFLX), YouTube and more. It will also include TiVo+, which will serve as a source of free, ad-sponsored television and movies.
What makes TiVo's new offer stand out is it eliminates the need to toggle between different apps to access TV shows, the company said. This makes streaming content "feel a lot more like watching television."
A physical piece of hardware is required and can be plugged into the HDMI port of a TV.
Why It's Important
TiVo President and CEO Dave Shull said the company created a "dramatically better" experience for people who are frustrated with browsing through multiple apps and interfaces to find the content they want.
"We are excited to help TV lovers and occasional viewers alike make the most of their time in front of the screen and bring together the best of the streaming and TV experiences," Shull said in a press release.
TiVo Stream 4K will launch in April 2020 at $49.99 (MSRP of $69.99) and will be sold across retail stores and online at TiVo.com.
TiVo's stock traded around $8.26 per share. Roku Inc (NASDAQ: ROKU), which TiVo's new product could take a bite out of, traded lower by 2.4% to $139.90 per share.