Foxtel Slash Rates To Combat Streaming Services

Australian pay TV provider Foxtel has unveiled a plan to slash its subscription prices in order to combat its declining subscriber base.

Home to shows like Game Of Thrones, Girls, True Blood, Boardwalk Empire and Breaking Bad across its Showcase and FX channels and host of dedicated music channels [V], Max and the Country Music Channel, Foxtel has been experiencing an audience decline of ten percent this year, according to AdNews.

This morning Foxtel CEO Richard Freudenstein announced that they will bring in a new entry-level pricing point of $25 per month to arrest that slide. The basic packages will also include more entertainment content – including Showcase – in an effort to compete with internet based television show and film streaming services like Netflix.

“We will significantly reduce the price of our entry package so all the people who have long wanted Foxtel, but didn’t think it fitted their budget, will look at us again,” said Freudenstein, according to Mumbrella.

Mediabrands chairman Henry Tajer told AdNews that the move could see Foxtel push above its traditional 30 percent market penetration.

“Foxtel is at that tipping point where they could start to hover in that 40 percent penetration over time and that makes them a reshaper of the marketplace.”

Foxtel will also be reshaping their on-demand services and be introducing a Foxtel BoxSets channel.

The changes will launch 3 November.