Media Release: Monday, December 8, 2014
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 programing 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.