EXCLUSIVE: Foxtel To Reveal Project Magento Name Tonight As Retailers Fight For Access
Foxtel will tonight unveil a new era for streaming in Australia, with the official launch of the name for Project Magento, which involves new cutting-edge hardware and a whole new content interface.
Some insiders are tipping that the new name could eventually replace the Foxtel name.
At this stage Project Magento consists of a new TV and puck with the possibility that the puck could be launched first followed by a range of TVs that have the new Ui interface built in late next year.
ChannelNews understands that retailers have been fighting to get access to the new hardware.
ChannelNews understands that the puck will deliver 4K, have WiFi 6 on board and a very fast processor that is capable of handling high quality video and audio streaming.
A key element of the project is the new interface which will deliver a multitude of streaming options with owners having to pay only pay one bill.
The name will be announced by Foxtel CEO Patrick Delany tonight at a gala event on Cockatoo Island in Sydney.
The new Stream box eliminates the need for a satellite dish or cables running from the wall. It will compete head on with a brand-new Apple TV box Amazon’s Fire Stick and a new small format box from Fetch TV that is set to be launched next year.
The puck will support 4K playback and UHD, HDR, Dolby Atmos, and an “unbelievable amount of content”.
And unlike LG Electronics WebOS or Samsung’s Tizen OZ which were recently upgraded users will be able to choose a multitude of streaming and content options and only pay one bill.
What is set to be delivered in a small footprint puck that is remarkably easy to set up and a simple to use interface.
It also eliminates the need for a large streaming box similar to prior Foxtel boxes.
Weighing 0.1kg. It’s so small and thin that you will be able to hide it behind the TV or in some cases mount it on the TV.
What we don’t know is whether the final puck being launched in Australia will actually have a TV aerial connection with most free to air TV apps set to be available via the interface.
A key software feature built into the new interface is tipped to deliver a carousel with a bunch of different categories, including Playlist, TV Shows, Movies, Sport, Kids, Audio and Music, News, Fitness and International which can be accessed quickly.
A key standout will be personalisation with the AI built into the software able to deliver personal viewing information via different carousels.
In the UK version of the Sky puck, which was developed by the same development team, users will be able to quickly access a TV guide carousel, a “Continue Watching” carousel, and a carousel of multiple apps.
There will also be an intelligent remote in the box with quick action buttons to add content to your Playlist, and a voice control button.
You can use your voice to do most things – whether a user is opening a playlist, launching a TV series or app, or turning on a setting or skip forward.
What’s not known is whether the device can be included on the Amazon, Samsung, Google or Apple networks via the likes of Matter or individual coding.
The arrival of the product comes as streaming networks in the USA are hitting hurdles on both the content and subscriber front.
The new box is all about lifting the profitability of Foxtel with the new offering tipped to dramatically cut costs.
Delany was quoted recently in the SMH claiming “I’ve said this many times: the exuberance of subscription numbers has passed a long time ago,”
“It’s now about revenues, and that’s playing out.”
Delany has told ChannelNews that Magneto goes beyond what any existing service offering and will usher in a whole new era for Australians.
“They [consumers] are hopping from one app to the next without finding what they want, unable to track what they’re subscribed to and how much they’re spending every month. Magneto will solve all of these problems and more.”
He points to data from Accenture’s 2023 Reinvent for Growth report, which found 44 per cent of people are frustrated by having to switch between different apps for different services.
Tonight we will get to know the full story.