Foxtel Raises Prices Ahead Of IPO & 4K Push
Pay TV provider, Foxtel, has issued its first price rise in over two years, after announcing the country’s first 4K TV channel, ahead of its looming IPO.
Effective October 1st, Foxtel’s basic entertainment package will jump to $29/month (up $3), whilst its platinum pack will cost $139/month (up $2).
Foxtel claims the price rise will support content investment (e.g. concerts, movies and/or sports for its new 4K TV channel), plus its new set-top boxes.
Set to be Australia’s first 4K TV channel, ‘444’ will commence telecasting in October.
Following lucrative broadcast rights, Foxtel’s first live 4K cricket match will air November 4th, between Australia and South Africa.
Channel 444 is accessed via a satellite connection and Foxtel’s new iQ4 set top box. It comes as Foxtel moves away from cable TV, in favour of satellite connectivity.
The channel claims to offer guaranteed 4K delivery, unlike NBN-supported video streaming.
Cheif Executive, Patrick Delaney, claims ‘444’ and its new iQ4 box are the “first step” in Foxtel’s 4K future, which is tipped to grow with adoption of 4K TVs.
The news follows a major re-shuffle of Foxtel’s senior management team, adding former Amaysim CEO, Julian Ogrin, ahead of its looming IPO.