TiVo wants to make a comeback with $50 Android TV dongle

It's hoping the hardware will make it cool again.

In TiVo's heyday the company was synonymous with recording TV shows via your remote control, so you didn't have to rush home to catch "your show" or attempt to record it on the VCR. But that was two decades ago, and things have changed. Now, the company has a plan to become relevant again. According to CNN, TiVo is launching a new service called TiVo Plus and banking on a $50 Android TV stick.

TiVo Plus will reportedly recommend shows across services like Netflix, Hulu, Amazon Prime and YouTube -- similar to Apple TV recommendations. It's set to launch in October, and it will be free for US households that still own TiVo products. Then, early next year, TiVo will allegedly release a $50 dongle for Android TV. That will come with TiVo Plus and presumably other enticing features.

Behind the scenes, TiVo will split into two companies -- one focused on patents and one on products. "We're betting the future of the company on [this plan]," TiVo CEO Dave Shull told CNN. "But listen, if we're wrong, we'll adjust."