Foxtel To Launch New Streaming Service Next Week
Foxtel has confirmed that it will launch its new streaming service next Monday, the 25th May, which will offer more than 10,000 hours of local and international content. The Australian reported that it will be called Binge, though this has yet to be confirmed by Foxtel.
“There has been a lot of speculation about our new streaming service and its name, and we are pleased to final be ready for the big reveal to Australia next week,” said Patrick Delany, CEO of Foxtel Group.
This comes on the back of Foxtel securing a new multi-year contract with WarnerMedia that ensures Foxtel has exclusive rights to HBO content in Australia.
The new streaming service will therefore offer movies and dramas from Warner Bros, HBO, HBO Max, Sony, NBCU, FX and the BBC. HBO Max, set to launch in the US on the 27th May, will be HBO’s video streaming service, and will create its own original content as well.
“We have been beta-testing the service for a few weeks and we are sure Australians will love everything about it. It 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,” Delany said.
Foxtel is evidently trying to share in the success of the streaming market, which has taken off during the COVID-19 lockdowns. Netflix’s global users surged to 182.9 million in the first quarter of the year. Stan and Disney+ have also witnessed rising subscriber numbers.
By comparison, Foxtel’s subscription numbers have remained stagnant. As of end-March, Foxtel had 2.93 million subscribers, marking an increase of 1% compared to the year before.
In early April Foxtel made 200 staff redundant and stood down 140 employees until June.
Nevertheless, Foxtel is still baking its subscription television service as its most premium offering. “The foundation of our business is our Foxtel subscription television service which provides 2.5 million loyal customers with the complete premium experience – the best of TV and on demand all in one place,” Delany said.
Meanwhile, the new streaming service is 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,” Delany said.
Foxtel’s iQ3/4 set top boxes offer over 100 live channels as well as a range of on demand films and box sets.