Foxtel is buying Seven West Media out of its Presto joint venture. The move means Presto will be folded into the Foxtel Play streaming product.
From December, Presto customers will be able to access Foxtel's revamped Play product. Presto customers will be invited to transition to the new Foxtel Play packages and Presto will cease operation from 31 January.
Peter Tonagah, Foxtel CEO, says: “It has been great working with the team at Seven on Presto and we look forward to future collaborations. We are delighted to be able to offer Presto subscribers the new look Foxtel play.”
Foxtel is overhauling its subscription packages and products towards the end of this year as it ramps up its efforts to provide a more competitive offering against the challenge from streaming platforms.
The revamped Play service, which was announced last month, includes new lower tariffs and improved content. Tariffs will start at $10, with sports available for $25 extra a month and movies for $20.
“Foxtel Play will be a simpler, cheaper and more flexible IP delivered product, which will create much better value for Australian consumers. It is the logical step for us to take in the evolution of Foxtel’s service," Tonagh adds. "The new offering will mirror the successful launch of HBO Now in the US and Now TV by Sky in the UK.
“Customers who use an IP connection, with their own device and bandwidth will have access to this great new offering. Consumers will be able to sign up by downloading the app to their eligible connected TV, laptop, PC or games console."
Tim Worner, Seven West Media CEO and managing director, says the network will continue to work closely with Foxtel, particularly in creating “new programming content”.
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