Foxtel's streaming platform, Foxtel Now, is expected to be phased out as the cable TV provider prepares to unveil new sports and entertainment streaming services to compete with the likes of Netflix, Stan and Optus, reports the AFR.
The first One Day International cricket match between Australia and South Africa on 4 November has been flagged as a potential launchpad for the sports streaming service, internally referred to as Project Martian. An alternative could be 29 September, the beginning of women’s cricket coverage to which Foxtel has exclusive rights.
Additionally, it is expected that Foxtel will announce a new entertainment streaming service, code-named Project Jupiter, in the near future to remain competitive in the rapidly growing SVOD market.
Foxtel has recognised its closed platform approach has been superseded as the popularity of subscription streaming services grows. The market for traditional Foxtel packages has capped out at 30% of Australian households.
Foxtel Now was launched last year by Peter Tonagh, then chief executive, but the service is reportedly unpopular with incumbent Patrick Delany. Consulting firm McKinsey & Co have been working with Foxtel in an attempt to maximise the value of their content portfolio.
The launch of Foxtel Now coincided with a multimillion-dollar revamp of the core Foxtel brand, which was its biggest strategic shift in 22 years.
Current Foxtel subscriber numbers are expected to be of great interest when News Corp, 65% owners of the Foxtel-Fox Sports merged organisation, releases its full year report on Friday.
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