News Corp-controlled Foxtel is confident new entertainment streaming service Binge will win it more subscribers despite industry concerns it will cause further churn for its traditional pay TV offering in a fiercely competitive market.
Julian Ogrin, chief executive of Binge who also runs Foxtel's sports streaming service Kayo, said the company was expecting to complement Netflix's local subscriber base, rejecting the idea that the market was too cluttered and that the product, which costs between $10 and $18 a month, would cause existing Foxtel subscribers to reduce the price they pay for content.Louise Kennerley
“At the end of the day what we are doing, not unlike Kayo, we are going for a whole new audience," Mr Ogrin told“We demonstrated our success with Kayo in that we said upfront that Kayo was about getting into the growing incremental markets that Foxtel didn’t play in. That’s exactly how we see this as well. It’s making sure we are tapping into that growth. We really think we are a must-have product that joins at the hip of the established Netflix user.
News Corp was the most shorted stock on the Australian Securities Exchange as of May 18, according to data compiled by the Australian Securities and Investment Commission. Short positions surged to 15.7 per cent, growth which industry experts said could be linked to significant falls in advertising revenue across the wider News Corp business and suspension of sport caused by the COVID-19 pandemic.
"The second reason is that there is a perennial concern about News Corp's newspaper businesses and they are also under structural pressures, and that's one of the reasons why News Corp is hellbent on giving people more transparency about the crown jewel in terms of Dow Jones and the Wall Street Journal, because they want people to focus on those instead of all the other ones [businesses] which are struggling.
zoesam93 I got great enjoyment from the Foxtel sports programmes I think they do sport better than anyone else . I cancelled my subscription because I could no longer stomach the thought that I was putting money In Rupert Murdoch’s pocket . For the same reason I will not sign up to Binge
zoesam93 Netflix, Stan, Prime Video, GooglePlay, Microsoft Movies, Disney Plus. What is going to make Binge stand out?
zoesam93 How many attempts at a streaming service is this now? Lost count...
zoesam93 The thing that strikes me most about the move by Fox into streaming is how anachronistic the look and feel of it is. I suppose this what they are counting on: it will not be online people watching it. The boomers are coming home....
zoesam93 I would not sign up to anything Ruphet Merdoch brings.
zoesam93 Unfortunately all these new versions of the same thing keep running into the same problem: I will never, EVER give my money to the cunts who own it.
zoesam93 Remember when Rupert Murdoch bought MySpace?
zoesam93 Foxtel was a rip off. Expensive and the programming was utter crap. No way am I giving this greedy company any more money.
zoesam93 Can't they just have their existing platforms rebuilt so it works properly with more flexibility? Rather than introducing another product to compete with others and themselves?
zoesam93 Why would you pay huge $$ for a substandard product. People can watch quality for Nothing.
zoesam93 Huh? Whose watching that?
zoesam93 I want Shudder not this HBO crap
zoesam93 Classic Murdoch. It’s a ruse. It’s same programming as Foxtel with only real difference being consumer can play program when they like using streaming. No real incentive to sign up.
zoesam93 Wall-to-wall of (mostly) American crap. Roll on Britbox
zoesam93 This service will crush Stan
zoesam93 I do like the way Netflix generates own sponsored content. Must be a boon for the movie makers.
zoesam93 ...Binge is the Hindenburg MK2 - full of explosive hot air and doomed to failure....
zoesam93 dream on Rupert
zoesam93 Lol