Presto JV Approved, Free Trial Offered

SYDNEY: The proposed joint venture between Foxtel and Seven West Media for the SVOD service Presto TV has today received approval from the ACCC, and Australians are now being offered a free 30-day trial.

The management team for the Presto TV JV will be announced shortly. Presto is currently offering new customers the opportunity to experience the full service with a free 30 day trial of the Presto Entertainment bundle subscription. At the end of the free trial period, customers can choose to stay on as Presto subscribers and select between Presto TV or Presto Movies for $9.99 a month, or continue with a Presto Entertainment TV and movies bundle subscription for $14.99 a month, with no ongoing commitment.

Richard Freudenstein, Foxtel's CEO, said, “We have big plans for Presto Entertainment to be a leading player in the SVOD space and are excited we can accelerate plans for Presto TV with our partners Seven West Media now that the ACCC has given their consent to our joint venture.

“Presto TV is an important part of the Foxtel suite of entertainment services we offer consumers which includes the full service Foxtel cable or satellite product, the IP-delivered Foxtel Play and the recently launched Foxtel Broadband product.”

Tim Worner, Seven West Media's CEO, said, “We are up and running with Presto. We have great partners in Foxtel. The combination of the leader in subscription television and the leader in broadcast television—coupled with our strengths in content creation—delivers a compelling offer to our audiences on Presto. Our future is our content and our ability to deliver that content anywhere anytime on any device to our audiences.”

Shaun James, the director of Presto and On Demand, said, “Since launching Presto Entertainment in January, we’ve been fine tuning the service with the constant addition of great new content and new devices and now is the ideal time to show it off for free for 30 days to subscribers eager for a chance to give it a test drive.”