Foxtel is about to release Hubbl, its solution to app hopping, bringing a myriad of content services into one place.
Hubbl, previously known as Project Magneto, collects paid and free streaming entertainment into one access point.
Foxtel, 65% owned by News Corp and 35% by Telstra, says Hubbl is a small device that plugs into any compatible TV.
“We are on the cusp of launching our new streaming aggregation product Hubbl, which will greatly simplify the search for fascinating entertainment and sports from our own companies and from those of our cherished partners to the benefit of all, in particular to the benefit of viewers,” says News Corp CEO Robert Thomson.
He was briefing market analysts after announcing better than expected September quarter results.
Thomson says Foxtel continues to expect modestly higher expenses for the full year driven by sports rights and some costs related to the launch of Foxtel streaming aggregation service Hubbl.
However, Foxtel is on track to deliver relatively stable results for the year in local currency.
Foxtel’s contribution to News Corp has for some time been dragged down by a high US dollars against the Australian dollar.
In Australian dollar terms, Foxtel revenue was up for the seventh consecutive quarter. Adjusted revenue in the September quarter was $507 million, up 1%.
“But we have no doubt that our streaming strategy has been successful at a time when other companies in other markets are struggling,” says Thomson..
Paid streaming subscriptions rose 8%. Broadcast churn was down to 11.4% from 14.2%.
Foxtel’s total closing paid subscribers hit 4.6 million, a 2% increase compared to the last year, mainly due to the growth in streaming subscribers driven by Kayo and BINGE.
Broadcast ARPU (average revenue per user) for the September quarter increased 3% year-over-year to A$85 .
The September quarter numbers:
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