Seven, Foxtel formalise Presto joint venture.

presto

Seven West Media has formalised of its joint venture with Foxtel in Presto TV Pty Limited.

The JV was first announced in January but the ACCC did not oppose the JV, with the two media companies each hold a 50 per cent equity stake in the streaming service.

Shaun James, Director of Presto and On Demand at Foxtel, will act as Interim Chief Executive Officer while a management team is formed.

Presto’s content offering consist of 4443 TV episodes available across 254 show titles with Presto Movies offering 879 movie titles, or more than 5000 hours of content but will dramatically increase its content libraries and first-run programming, beginning with US drama, Aquarius.

“Presto has been steadily building its content proposition and the formalisation of our joint venture with Seven puts us in a position to dramatically ramp up our plans to be a major player in Australia’s SVOD sector,” James said.

“We have an enviable library. We have the premium content. We have the upcoming first-run ‘only on Presto’ programming that we’ll be unveiling over the coming weeks. We have great partners and we are committed to delivering the best consumer experience.

“We’ve already confirmed key agreements with content providers such as HBO, Showtime and with our key shareholders Foxtel and Seven West Media and we recently announced our first-run exclusive Australian launch of the entire series of Aquarius, starring David Duchovny, coming to Presto Entertainment and Presto TV on Friday, May 29.

“Our customers can expect similar announcements as we move forward.”

8 Comments:

  1. Armchair Analyst

    Presto should put classic AFL/VFL/SANFL matches on if they did I would consider subscribing. 7 about three or four years ago showed classic AFL games on 7 two at late night under the FootyFlashbacks branding.

  2. I don’t understand why anyone would subscribe to Presto I I tried to give it a go on the weekend no App for my tv, no App on the apple TV, so I installed it on my iphone but it’s not possible to Airplay it to my big screen ?? With no way to play it on my big screen there’s no point so I cancelled the trial. I just don’t understand their business model they’re supposed to be a streaming video provider but there’s no way to stream the shows to your TV, makes no sense

    • Same here, using Chromecast to stream from our phones or tablets we get audio, but no picture. It’s only usable for us on the TBox we have. You’re not missing much though, the back-catalogue isn’t very impressive. When I’m done watching the original X-Files, I’ll be done full-stop.

    • Chromecast seems to work for us. Also it’s on Tbox. It’s not as good as Netflix or Stan IMO but at least it’s free for 6 months.

  3. It makes sense now why Presto weren’t pushing as hard as Stan or Netflix for premiere content – they were making sure they got government approval to proceed. In saying that, given Foxtel and Seven both have big pull with U.S. studios it will be interesting to see what shows they will be targeting. But as I’m already a Foxtel subscriber I see no point in subscribing to Presto so I’ll just have to hope that whatever they premiere will later air on Seven or Foxtel (as is planned with Aquarius on Seven).

  4. Not interested in this service until they become more technologically advanced (supporting multiple platforms like Apple TV, gaming consoles, etc.) including HD content.

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