Amazon is developing a new device that records live TV, encroaching on TiVo's market.
The device, dubbed "Frank" inside Amazon, is a new type of digital video recorder for the streaming era. On Frank, users will be able to record live TV and stream it to a smartphone so it can be watched later.
Frank will connect to Amazon's existing Fire TV boxes, the living room hub for the company's online video efforts. The company also plans to update its Fire TV stick (the smaller version of the Fire TV box) with newer software.
This is positive news for the company, especially since Fire TV streaming devices are among Amazon's best-selling products.
As we've mentioned before, the company has been investing in original movies, TV shows, and live spots to make its Prime membership an alternative to streaming services like Netflix.
We see this new product as a excellent extension of Amazon's broader strategy to occupy living rooms through its devices and services.