Presto closure costs Foxtel $21m

Folding SVOD service Presto into Foxtel’s existing subscription on-demand service has cost the Australian pay TV operator US$21 million, numbers released this week reveal. Foxtel’s net income for the three months to September 31 fell from US$42 million last year to US$16 million, primarily due to the decision to close Presto in January 2017. “Equity […]

Shares in Aussie SVOD service suspended

Struggling Australian subscription on-demand service Quickflix has had its shares suspended from the country’s stock exchange. The firm has failed to pay its annual listing fees on the Australian Securities Exchange and was therefore one of the companies blocked from trading. Quickflix went into administration in April in the face of stiff competition from Netflix, […]

Report: Seven to exit SVOD joint venture

Seven West Media is set to pull out of its joint venture subscription video-on-demand platform Presto, according to local reports. Rather than agreeing a full financial year agreement for the service with JV partner Foxtel, Seven Network’s parent reportedly has opted for a six month budget. The Australian reports Presto is under “extreme pressure” from […]

Aussie SVOD service calls in administrators

Embattled Australian subscription on-demand service Quickflix has entered into administration. The Australian Securities Exchange-listed company has appointed partners from Ferrier Hodgson as voluntary administrators, though trading continues as usual. Quickflix’s New Zealand arm is not included in the administration process. Quickflix said it had taken the move as its struggled to raise new capital due […]

Foxtel ‘plots own streaming device’

Australian pay TV giant Foxtel is reported to be planning to launch a streaming device that would offer free and paid-for services. Billed by the Australian Financial Review as an “Apple TV-style streaming device”, the product could potentially offer Foxtel’s online streaming service Foxtel Play. The device would compete with Telstra TV, a television set […]

Foxtel CEO joins Ten board

Foxtel CEO and managing director Richard Freudenstein has joined the board of Australian commercial channel Ten Network as a non-executive director. This comes after News Corp-backed Foxtel bought into Ten Network Holdings, which was at the time cash-strapped following a period of poor ratings, earlier this year. Freudenstein’s appointment is effective today, and comes as […]

Australian SVOD market to grow 17-fold

Australian subscriptions to streaming services like Netflix, Presto and Stan will grow by a factor of 17 between the end of 2014 and the end of 2019, according to new research. The new Ovum study claims that subscription video-on-demand services have grown rapidly in Australia since Netflix moved into the market in May, with competition […]

Study: Netflix drives down Oz piracy

New streaming services are helping to drive down illegal downloading in Australia, new research shows. An independent study found that 25% of Australian adults had pirated content, which was down 4% on the 2014 figure. This was attributed to the launch of popular new services such Narcos platform Netflix, Stan and Presto, and new government […]

Quickflix China acquisition off

Struggling Australian SVOD service Quickflix has called off its planned acquisition of an unnamed Chinese media firm. The deal, first revealed to shareholders of the listed company earlier this month, was designed to aid recovery at Quickflix, which has found the Australian subscription on-demand market tough since rival services Netflix, Presto and Stan launched. However, […]

EzyFlix shuts as Netflix dominates

Australian streaming service EzyFlix has shut down as competition heats up in the fiercely competitive Australian market. A message was posted on the EzyFlix website yesterday explaining that the service’s backers, Access Digital Entertainment, have decided to shut it. No reason was given, but with Foxtel-backed Presto, Nine Network-backed Stan and independent players such as Quickflix […]

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