 Under the agreement, it is expected subscription video on demand content from both companies will be incorporated into Presto’s existing online subscription library.
Customers will be able to subscribe to Presto Entertainment or the Presto Movies service as standalone services or bundled together. Presto Entertainment will feature content from both Foxtel and Seven’s locally commissioned and internationally acquired content, with specific program announcements to be made in the coming weeks, the two companies advised via a media statement.Pricing for the service will be confirmed closer to its launch. With Netflix set to land in Australia in March next year, local digital content providers are gearing up for a new level of competition in a rapidly evolving market. At the beginning November, the Nine Entertainment Co. and Fairfax Media joint venture unveiled Stan, its subscription video on demand service, which will also likely launch early next year. A partnership was subsequently announced with SBS, with the agreement bringing SBS’s World Movies to Stan. Foxtel CEO Richard Freudenstein described TV as the “final piece in Presto’s entertainment puzzle”, adding it positions Foxtel well “to take it to the next level by offering the best in local and international TV to new and future subscribers”. Tim Worner, Seven West Media CEO, stated the venture sees Seven and Foxtel working together to “deliver a new and exciting service to Australians”. “Our growing content library underlines Seven’s future as a content company delivering its programming to our audiences across a range of devices,” Worner commented. |
