Foxtel has pegged “the growth engine” of the subscription TV group to a “next generation entertainment streaming service” — to launch next week.
With the streaming platform’s much-mooted name yet to be confirmed, Foxtel CEO Patrick Delaney said the new streaming service to rival Netflix, Stan and Amazon Prime “brings an exciting new brand to younger streaming audiences, with a very different and compelling product experience, and a distinctly curated mix of the best drama and movies from the world’s best entertainment brands.”
The new app will offer more than 10,000 hours of local and international drama and movies -bolstered by the recent signing of a multi-year content deal with heavyweight WarnerMedia; as well programming from Sony, NBCU, FX and the BBC.
The multi-year agreement with WarnerMedia was only secured after a battle for the rights against Nine Entertainment’s Co’s streaming service Stan.
The deal will allow Foxtel access to HBO programs including Game of Thrones, Succession and Big Little Lies and Warner Bros shows such as The Big Bang Theory and Friends.
Foxtel has also extended its agreement for the Cartoon Network, Boomerang and CNN, and has agreed to work on scripted and non scripted local productions with WarnerMedia.
The May 25 launch “provides a different curation of the Foxtel Group’s entertainment content focused on mobile devices and the streaming generation who want to share on the big screen,” Mr Delaney explained.
“It is distinctly branded and aimed at part of the Australian market who either don’t want to pay for our premium product or who have decided Foxtel is not for them.”
It follows the success of Kayo Sport, which exploded into the market when the $50 million venture launched two years ago, with Delaney predicting it would “resume subscriber growth when live sports restarts later this month, with COVID-19 restrictions easing.”
While the foundation of the Foxtel business remains its subscription television service to 2.5 million customers, the new streaming option will attempt to broaden the base.
Full details of the new entertainment streaming service including its name, pricing packages
and content will be announced later this week.
