Abstract Review rating prediction is an important research topic. The problem was approached from either the perspective of recommender systems (RS) or that of sentiment analysis (SA). Recent SA research using deep neural networks (DNNs) has realized the importance of user and product interaction for better interpreting the sentiment of reviews. However, the complexity of DNN models in terms of the scale of parameters is very high, and the performance is not always satisfying especially when user-product interaction is sparse. In this paper, we propose a simple, extensible RS-based model, called Text-driven Latent Factor Model (TLFM), to capture the semantics of reviews, user preferences and product characteristics by jointly optimizing two components, a user-specific LFM and a product-specific LFM, each of which decomposes text into a specific low-dimension representation. Furthermore, we address the cold-start issue by developing a novel Pairwise Rating Comparison strategy (PRC), which utilizes the difference between ratings on common user/product as supplementary information to calibrate parameter estimation. Experiments conducted on IMDB and Yelp datasets validate the advantage of our approach over stateof-the-art baseline methods.