Image Source: EFTM.COM.AU
Foxtel has gone through a drastic corporate change. With the Foxtel logo getting a makeover, the company is now also offering lower prices to all its customers as it locks horns with the bigger fish in the sea, such as Netflix. The move, which comprises of a redesigned Foxtel logo, is another indication that Foxtel is now realigning itself to compete with its younger rivals in the technological world, including Stan and Amazon.
Image Source: WHISTLEOUT.COM
Foxtel’s chief executive, Peter Tonagh, stated that the move is the “biggest strategic shift in the 22-year history of Foxtel”. Mr Peter Tonagh said that he was aiming to try his hands on producing the new internet-TV based service which is to be called Foxtel Now. Foxtel Now will be used to target the two million households in Australia which are currently using famous TV streaming services for instance Netflix.
Shareholders in Foxtel, a joint project between The Australian’s publisher, News Corp, and Telstra, have given this new business venture their full support, Accorindg to Mr. Peter
“We will spend over a billion dollars more in the next five years than we had in our original plans a year or so ago. That’s a sign not only of the recognition of the need for transformation within the business, but also recognition of the support of our shareholders and belief in what we’re doing as a business.”
Image Source: FOXTEL.COM
Foxtel is already offering an on-demand streaming feature named Foxtel Play, enabling clients to watch television on a number of devices around their house, but this presents to the customer a very limited number of channels for a higher price. Foxtel Play will now be replaced by the newly launched Foxtel Now.
Enhancements in the features comprise of HD streaming and the ability of streaming to the big screen as Foxtel continues the long-term drive of making its content available anywhere at any time.
Mr. Peter stated that, “We think it’s probably time that we changed that. We want to transform our business and the Foxtel logo from being known as the pay-TV provider for the premium segment to become known as the premium entertainment provider for all Australians,” said Mr Tonagh at a press briefing in Sydney earlier today.