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News Corp’s Aussie pay TV giant Foxtel aims for 5M subs, streaming growth

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Social Links for Alexandra Steigrad
Published Sep. 30, 2021
Updated Sep. 30, 2021, 11:34 a.m. ET

Foxtel Group, the Australian pay TV and streaming giant, which is majority owned by News Corp., sees itself as a “disruptor” in the streaming space, according to management during a strategy day for analysts on Thursday.

“Our emphasis on growth through streaming, through improved compelling interfaces, and on securing long-term valuable sports and entertainment rights, has put the company on a distinctly upward trajectory,” News Corp. CEO Robert Thomson said during the event, which was streamed for investors. “The business is burgeoning.”

Foxtel CEO Patrick Delaney added that his streaming service is the “disruptor of the Australian media industry.”

Since the 2018 merger of Fox Sports Australia with Foxtel, News Corp. has owned a 65 percent stake in the company, with telecom firm Telstra holding the remainder. News Corp. is also the parent company of The New York Post.

Thomson said in the last three years, Foxtel has “transformed the business” and created “Australia’s most dynamic streaming company.” The exec added that the increased popularity of streaming has allowed the company to reach new customers that couldn’t afford or were unwilling to buy pricey cable or satellite TV packages.

The Foxtel headquarters stands in Sydney, Australia
News Corp. owns a 65 percent stake in Foxtel, which according to executives, has become a “disruptor” in Australia’s streaming space. Bloomberg

Delaney touted the company’s focus on streaming services, such as Kayo Sports, which nabbed 1.1 million subscribers at the end of June, as well as Binge, a movie and TV platform that scooped up roughly 830,000 customers. The exec also cited soon-to-launch live and and on-demand “news aggregation service” Flash.

Delaney said that overall, Foxtel has 4 million total subscribers and hopes to grow that to over 5 million in the next three years.

Aiding Foxtel’s growth will be popular shows like AMC’s “The Walking Dead,” HBO’s “Succession” and the upcoming “Game of Thrones” prequel, “House of Dragon,” among others.

The Foxtel logo is displayed at the company's headquarters in Sydney, Australia
Foxtel executives said that the company will grow its subscriber base to 5 million over the next three years. Bloomberg

Foxtel Chief Commercial and Content Officer Amanda Laing said the company will weave in popular Australian shows and sports, as well as programming from Hollywood in order to pump up the growth.

She noted the important relationship that her company has with Hollywood and Australian media.

“Foxtel is the Australian partner of choice for studios and sports,” Laing said.