Amazon has TiVo in its sights with live TV recording box
According to an unnamed source, Ecommerce giant Amazon is developing a device that records live TV. That’s a BIG challenge to TiVo’s market, and given Amazon’s habit of displacing competitors left, right and center, it’s pretty understandable why TiVo’s share price plummeted by 10% on the back of the news. So far, we only know a few things about the device – dubbed “Frank” inside the company – and an Amazon spokeswoman declined to comment.
Amazon’s share price has surged by 61% so far this year
SOURCE: Yahoo Finance
According to the anonymous source, Frank is a “new type of digital video recorder for the streaming era.” It connects to Amazon’s Fire TV Box, which has become the center of Amazon’s push into front room entertainment, and uses the same wireless tech to connect to it that the company’s Echo speakers do. Although the person said that nothing is finalised yet, it looks as though users will be able to record live TV then stream it to a smartphone or other device to watch later – once more, that’s pretty similar to existing options from TiVo and Slingbox.
If Frank makes it to market, “he” could fulfill a crucial element in Amazon’s ongoing strategy to be its consumers’ everything. The company already offers a first rate entertainment service through its Music and Video platforms, and it’s the king of online retail (at least in the west) in pretty much every category. With recent pushes into cloud computing services (through Amazon Web Services) groceries (with its acquisition of Whole Foods) and the online pharmacy space (thanks to its purchase of PillPack) the company is close to fulfilling CEO and founder Jeff Bezos’s original vision: to become an “everything shop.”
Dominion holds Amazon in its Global Trends Ecommerce Fund.
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