Fetch had a record year in 2017-18, adding about 160,000 customers to push past the 700,000 subscriber mark, achieving profitability and growing revenues to more than $155 million.
“Fetch is now fulfilling its promise, having achieved scale, secured a strong strategic position in the market, and now generating a positive cash flow,” CEO Scott Lorson told The Australian Financial Review.
“With a strong balance sheet and strong earnings trajectory, we will now look for opportunities to further accelerate growth, both in Australia and abroad.”
Over the 2017-18 financial year, total viewing hours increased by 40 per cent to 1.1 billion hrs, made up of 53%t free-to-air content, either live, recording or on catch-up, 21% on its subscription channels, live, recorded or catch-up and 20% on SVOD.
Transactions on the Fetch platform, such as purchasing of new movies, were up 50% year-on-year to 2.5 million.
Fetch TV, which was the first set-top-box platform in Australia to support Netflix 4K, recently announced a new sports pack with three beIN SPORTS channels.