Our prepared remarks should last somewhere between 20 and 30 minutes, followed by a question-and-answer session. Our discussion today includes forward-looking statements about TiVo's future business and growth strategies. We caution you not to put undue reliance on these forward-looking statements as they involve risks and uncertainties that may cause actual results to vary materially from the forward-looking statements, as described in our Risk Factors in our reports filed with the SEC. Any forward-looking statements made on today's call reflect our analysis as of today, and we have no plans to update them.With that, I will now turn over the call to Tom Rogers. Tom? Thomas S. Rogers Thanks, Derrick. Good afternoon, everyone. This was another solid quarter for TiVo as we made substantial progress across the 5 key areas of our growth strategy: deploying more subscribers within our current distribution relationships, signing new distribution deals, protecting our intellectual property, deepening our capabilities in the audience research business and making progress on our financial goals. Let's start with the progress we've made in terms of distributing TiVo across a large global footprint. During the quarter, total subscriptions grew by 230,000 over last quarter and increased 41% year-over-year or about 800,000 subscriptions. This success is even more meaningful when you consider that just over a year ago, we spoke to you about our goal of turning our MSO subscription growth positive. In the second quarter of last year, we accomplished that goal, and we've only seen an upward trajectory since then. So what's behind the success? We believe our subscription growth is the result of operators looking to attract and retain subscribers in a world where consumers have more choice than ever when it comes to where and how they access content. As cable operators are experiencing increasing difficulty attracting and maintaining video subscribers, they are recognizing the urgent need to retain their position as the key providers of the video experience for consumers that takes advantage of their unique offering of broadband internet service. Yet, there are very few partners out there that they can turn to for help. We believe we offer the gold standard of a television user interface combined with the speed and flexibility to implement the delivery of solutions for any operator infrastructure, from a TiVo set-top box in a QAM-based-only environment, all the way to a non-TiVo set-top box or no set-top box at all in a cloud-based IT environment, and many flavors in between. And we package all of it with the only brand in the advanced television space, a brand that is synonymous with consumer friendliness and ease of use. We spent a lot of R&D resources over the last few years trying to position our infrastructure and our code such that we could more rapidly take advantage of the opportunities we knew were coming from operators, and we believe these investments are now beginning to pay off as operators are increasingly turning to TiVo and are finding that once they do, they can clearly set themselves apart from competitors and create stickier subs.
Virgin Media is a perfect example of our success in this area as they recently reported they had reached 1 million TiVo subscribers in just over a year, making it our most successful advanced television deployment to date. Virgin Media's paid television subscribers continue to increase despite the challenging macroeconomic environment in the U.K., all while their competitors are seeing their net subscriber additions slow down considerably. In Spain, despite an even more challenging economic climate than in the U.K., ONO reported that TiVo subscriptions doubled over the last quarter and that they experienced lower churn levels and excellent customer satisfaction metrics. To that end, ONO is looking at ways to get TiVo out more broadly.Read the rest of this transcript for free on seekingalpha.com