HOLLYWOOD — TiVo is intensifying its promotion efforts in the face of increasing competition with the appointment of Matt Wisk as senior VP and chief marketing officer.
Wisk’s most recent post was outside the tech and entertainment world at nutrition products company Herbalife, where he served in the same position. Prior to that he worked in a variety of marketing positions for cell phone manufacturer Nokia.
Appointment marks the first time TiVo has named an exec at the senior VP level to guide marketing. Move comes as TiVo is in the midst of a $50 million campaign to strengthen sales of its digital video recorder sold at retail. The percentage of the company’s subs being brought in via retail sales of the DVR box is shrinking in relation to the customers signed up through a pact it has with DirecTV.
But with the DirecTV partnership expected to weaken as the satcaster launches a DVR service with News Corp. sister company NDS and cable companies bow their own generic services, TiVo’s working hard to differentiate and promote its product, which has more features but costs more.
“Matt’s experience in building world-class brands, wireless technology and international expansion will enable us to extend our lead in DVR and take us to a new level, positioning us as a leader in home entertainment services,” said TiVo topper Mike Ramsay.
Wisk reports to Brodie Keast, exec veep and general manager of TiVo Service.
His compensation package includes a stock option of 150,000 shares at a price of $4.11 with a 10-year term. TiVo stock closed at $6.69 Thursday, down 3%.
Company also announced it surpassed the 2 million-sub mark over Labor Day weekend, which keeps it on track with its performance last quarter of about 100,000 adds a month.