Not long ago, digital video recorders (DVRs) were still synonymous with TiVo. However, a recent influx of rivals has forced the company to leverage its intellectual property portfolio more aggressively and secure licensing fees via litigation.

This week, Verizon Communications settled an infringement lawsuit with the DVR pioneer and has agreed to a settlement of at least $250 million. According to Reuters, TiVo has won similar decisions against Dish Network, EchoStar and AT&T within the past 18 months.

"It also potentially sets the stage for a similar settlement with Time Warner Cable over the next year or so," Lazard Capital Markets analyst Barton Crocket told the news source.

According to the Chicago Tribune, the licensing fees will be distributed in quarterly allocations through July 2018. This arrangement should provide a crucial and consistent revenue stream for TiVo, which has posted net losses for eight of the past 10 years.

In the interim, the DVR company should be freed up to spend more time exploring innovative partnerships that can extend its success. According to the news source, TiVo is already in talks with movie lender Redbox regarding the development of a streaming video rental service that could debut ahead of the holiday season.