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July 21, 2014 by · 1 Comment 

TiVo, whose name is synonymous with digital video recorders but is a company that has struggled against major cable and satellite companies that have offered their own software and hardware DVR products, has suffered a new setback. It has thrown in the towel in its effort to launch a new service that records and stores streaming video from around the Internet. Launched in February, the Qplay streaming service plans to shut down on July 25, TiVo said in a statement on Saturday. Those who purchased the company’s $49 adapter can request a refund. "We did our best, and we’re sorry this is the end for Qplay," the company said in a statement. "We truly enjoyed bringing you the best videos from around the Internet. We had fun building and using Qplay and hope that you did too. Unfortunately, it is not possible for us to keep developing and running the service." Home Media magazine quoted Michael Greeson, president and director of research for The Diffusion Group, as saying, "The net-to-TV hardware space is extremely cutthroat, with thin margins and too many brand powerhouses swimming the waters … Qplay could have spared millions in wasted capital had it listened to a simple refrain we’ve echoed for years: If your goal is to offer a competitive streaming video service, forget about hardware altogether, as it only further burdens sales of the core service."