Foxtel, in a strategy update, confirmed that growth will be driven by streaming content, currently through Kayo Sports, BINGE and live news aggregation streaming service, Flash.
The company also revealed a transition to streaming for Foxtel Retail following the recent launch of the iQ5 plug and play IP set top box.
This transition includes a future as a streaming aggregator of Foxtel’s content along with integrating a broad range of local and global streaming apps.
The company plans a software update later this year which will allow the iQ4 set top box to be IP-only, without the need for satellite.
Foxtel's three-year plan:
- 5 million plus subscribers, having reached four million total subscribers in the year to June, one million higher in the past 12 months.
- About $3 billion in revenue with continued opportunities for margin expansion, supported by streaming revenue growth, continuing to slow the decline in residential broadcast revenue and ongoing cost transformation through digital growth and operational efficiencies.
CEO Patrick Delany: “Our strategy briefing highlights today’s Foxtel Group is a very different company to the one-product Foxtel of three or four years ago.
“The business has been repositioned as a technology-led streaming company with multiple sources of revenue growth from streaming, a strengthened Foxtel Retail offering and growth in digital advertising.”
A slide from the strategy presentation:
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