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TiVo exceeds 3 million subscribers

Digital-video recorder pioneer TiVo announced Friday it has exceeded 3 million subscribers.

Digital-video recorder pioneer TiVo announced Friday it has exceeded 3 million subscribers. The company added about 698,000 new customers--447,000 through DirecTV's satellite service--to its DVR service in its fourth quarter, which ended Jan. 31. The additions are part of an aggressive growth plan that began last year and includes a $50 million marketing budget to double its subscriber numbers each year for the next three years.

TiVo is in the middle of a search for a new chief executive to take over for Michael Ramsay, who will remain chairman. The company's president recently announced his resignation.