AAP Entertainment

Foxtel streaming service to launch soon

By AAP Newswire

Foxtel is to launch a new streaming service from next week with more than 10,000 hours of content sourced from Sony, NBCU, FX and the BBC.

It will also carry WarnerMedia content following a deal announced earlier this month.

The name of the new service and its price point have not yet been officially disclosed although the Australian Financial Review reported last month that it would likely be called Binge.

It has gone under the codename Project Ares and has been built using the same technology as Kayo, Foxtel's $25-a-month live sports app.

A joint venture between News Corp and Telstra, Foxtel has been struggling to hold on to subscribers, due in part to its high price.

That price had been justified by an emphasis on live sports but since the coronavirus lockdown, live sport has been largely wiped off the roster.

Foxtel last month announced a wave of redundancies, with most job cuts falling at its sports division.

Netflix had 12.2 million subscribers in Australia as of March 2020, according to research firm Roy Morgan.

Nine Entertainment's Stan had 3.7 million, Disney Plus 1.8 million and Amazon Prime 1.5 million.

-With AAP