Foxtel To Take On Netflix With New Streaming Service
Foxtel has reportedly received approval to launch a new drama and entertainment streaming service – dubbed “Project Jupiter” – taking on the likes of Stan and Netflix.
In an exclusive by the Australian Financial Review, sources claim the pay-TV provider is searching for an executive to lead the new venture, coupled with significant financial backing.
The project is reportedly amid testing, with Foxtel committed to producing an error-free and seamless platform.
The news comes as the pay-TV provider continues to expand its traditional business model, following the launch of new sports streaming service ‘Kayo.’
As previously reported, Kayo claims to have nabbed 100,000 subscribers within its first week of launch.
With largely positive feedback, many commentators question the long-term effect of Kayo on Foxtel’s core sports subscription base.
Foxtel has continued to pursue its vision of ‘Australia’s home of sport’, recently launching Channel 444 with a slew of ad-free LIVE sports in 4K quality.
AFR reports the new drama and entertainment streaming service will further speed up the phasing out of ‘Foxtel Now’, and like Kayo will not carry Foxtel branding, costing less than current entertainment packs.