Foxtel, an Australian pay television company, is reportedly launching a new streaming service, Binge, on 25th May.

The new platform will feature exclusive HBO content, following its multi-year agreement with the mass media and entertainment conglomerate, WarnerMedia. It will also feature various shows from the BBC, NBC Universal, HBO Max, WarnerBros, FX, and Sony. It is a new addition to various existing streaming services in Australia, including Disney Plus, Amazon Prime Video, Stan, and Netflix. It has been beta testing the new streaming service over the last few weeks.

According to Patrick Delany, Foxtel Group’s CEO, the company is pleased to reveal the new streaming service in Australia. The platform will cater to the younger streaming audiences with a different as well as compelling product experience. It will also offer a distinctly curated mix of movies and dramas from the best entertainment brands across the globe.

Mr. Delany further added that the upcoming launch will help bring an unparalleled catalog of sports and entertainment to Australian viewers. Through this, the company targets to achieve a goal of consolidating its position as the preeminent subscription TV and streaming provider in the country. Its growth engine will come through its streaming services, including Kayo. The platform is distinctly branded and targets users who do not wish to pay for the premium products or who are not the subscribers of Foxtel’s services.

Details regarding the name of the service, content, and price will be announced the following week. As of 31st March, the company had 2.9 million subscribers, which is a 1% hike, owing to the rising number of subscribers at Kayo. However, it has been impacted by the shutdown or postponing of various sporting events due to the coronavirus pandemic. It recorded a drop in subscribers from 408,000 as of 31st March, to over 272,000 by 2nd May.

The COVID-19 pandemic reportedly led the company to stand down 140 workers. It also made over 200 people redundant, due to the declining revenues of the company.

Source credit:https://www.businessinsider.com.au/foxtel-streaming-service-launch-may-25-2020-5