rose modestly Monday after the company confirmed plans for a service that will let subscribers to its digital video recorders search for television advertising.
The service, which is being launched in conjunction with several big advertising companies including
, is scheduled to come online this spring. The initiative, first reported by
The Wall Street Journal
, aims to address concerns that the ability of DVRs to fast-forward past commercial content has weakened television as an advertising medium.
"For the first time, advertisers will have the ability to deliver television advertising, on demand and targeted to consumers, without the limitations of traditional television media placement," TiVo said. "Ads will be delivered to subscribers who can conduct a search for a product by category or associated with keywords, utilizing the same revolutionary keyword search techniques offered with Internet advertising, resulting in increased relevancy for the consumer, as well as efficient, measurable results for the advertiser."
The stock added 16 cents, or 2.7%, to $5.94.