The subscription video on demand playing field got a real third competitor. SVOD’s at twenty paces (and add another $15 to your monthly spend as a top estimate for 2015). From the press release…
TV coming soon to Presto
“So good, you won’t believe it’s legal”

Foxtel and Seven West Media joint venture set to bring TV on demand to new Presto Entertainment service.

Presto Entertainment, a new service originating from a proposed Foxtel and Seven West Media joint venture announced today, would see a massive library of subscription on demand (SVOD) television content provided for Presto subscribers in early 2015.

The Foxtel and Seven West Media agreement is expected to see SVOD content from both companies incorporated into Presto’s existing online subscription library.

Presto Entertainment will provide customers with access to compelling programming from a single online platform and will complement the existing Presto Movies service. Customers will be able to subscribe to Presto Entertainment or the Presto Movies service as stand-alone services or bundled together.

The Presto Entertainment service will feature content from Foxtel and Seven West Media’s broad range of locally commissioned and internationally acquired content including drama, comedy, factual and entertainment programming. Specific program announcements will be made in the coming weeks.

Pricing for Presto Entertainment will be confirmed closer to launch.

Presto Entertainment combines the strengths of Foxtel and Seven West Media to deliver a new entertainment experience to all Australians. The deal, which is subject to regulatory approval, will see each company hold a 50% interest in the joint venture.

Richard Freudenstein, Foxtel CEO, said, “We’re thrilled to be taking these next steps with Seven West Media to establish the new Presto Entertainment service. Customers have already recognised the value of the unrivalled movie programming we’ve had on tap since Presto’s launch and we’re proud to have delivered such a great product. TV is the final piece in Presto’s entertainment puzzle and today’s news positions us well to take it to the next level by offering the best in local and international TV to new and future subscribers.”

Tim Worner, Seven West Media CEO, said, “This new venture sees the leaders in subscription television and our acknowledged strengths in content creation and leadership in broadcast television work together to deliver a new and exciting service to Australians. Our growing content library underlines Seven’s future as a content company delivering its programming to our audiences across a range of devices.”

Presto offers an intuitive customer interface and delivers the best in local and international video entertainment, curated collections, recommendations and critics’ reviews. Viewers can enjoy Presto on TV via Chromecast, selected Android tablets, iPads, and PC & Mac computers.

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About Foxtel
Foxtel is one of Australia’s most progressive and dynamic media companies, directly employing around 2,500 people, and delivering a diverse subscription television service over cable, satellite and broadband distribution. We offer a better entertainment experience every day to each one of our 2.6 million subscribing homes through delivery of new and inspiring programming across all genres, the world’s most popular channel brands, and investment in high quality local content. As constant champions of innovation we have brought customers the iQ personal digital recorder, Australia’s largest HD offering, the Foxtel Go App for tablets and mobile devices, internet TV service, Foxtel Play and online movie service, Presto. Foxtel is owned by Telstra Corporation Limited ACN 051 775 556 (50%) and News Corporation (50%). foxtel.com.au

About Seven Network
Seven is Australia’s most-watched broadcast television platform. Across the 2014 television season and in a year of major events, Seven – with three broadcast channels, Seven, 7TWO and 7mate, continues to lead in primetime, building on its market-leading performance in the 2013 television season. The network also dominates across breakfast and morning television. The network is expanding its presence in media, driving its leadership in the creation of content and delivering that content anywhere, anytime to the biggest audiences. The company is expanding its presence in the further delivery of its video and publishing content beyond its three digital broadcast channels and across an array of platforms, including Hybrid Broadband Broadcast Television. Seven is now creating more content than at any time in its history and is expanding its presence in international content production with the formation of two new international production companies: 7Wonder and 7Beyond. These two new businesses underline a key part of its strategy for today and in the future: the expansion of our leadership in the production of content. Seven is a key business of Seven West Media, Australia’s leading multiple platform media company which has a market-leading presence in broadcast television, magazine and newspaper publishing and online. The company is the home of many of Australia’s best performing media businesses – Seven, 7TWO and 7mate, Pacific Magazines, The West Australian and Yahoo!7, and the biggest content brands including My Kitchen Rules, House Rules, The X Factor, Home and Away, Sunrise, the Australian Football League, Better Homes and Gardens, marie claire, New Idea, Who, The West Australian and PLUS7.