Stan Defend Oz Turf After Apple TV+ Launch
Stan Chief Executive Officer, Mike Sneesby, asserts there’s room for plenty more SVOD players in Australia, however, not all will enjoy the same scale.
In an interview with The Australian, Sneesby seemingly shrugs off the impending threat of video streaming services from Apple and Disney.
He claims it would require hundreds of millions of dollars in investment to build a local library of TV shows and movies which compete with Netflix Australia and Stan.
“You can’t come in with a tenth of the shows, launch a service and charge $10 or $15,” he remarks.
“You’re up for hundreds of millions of dollars in investment, this is just for the Australian market I’m talking about here, to have a chance at getting the business to break even.”
Latest Telsyte numbers forecast SVOD subscriptions to notch 22 million in Australia by June 2022 – more than double its position in 2018.
Now wholly owned by Nine, Stan, currently boasts over 1.5 million active subscribers, after launching in January 2015.
“Stan has carved itself out a nice market position, differentiating itself from Netflix’s original programming with its own local content and distribution deals with key studios, for example Showtime,” affirms Sneesby.
The Australian owned streaming on demand service currently holds several multi-year content deals with many Hollywood studios, including CBS.