New streaming services like Kayo and Binge have revived Foxtel’s finances and subscriber numbers.
Foxtel CEO Patrick Delany said the pay-TV company cut costs while increasing revenues by leveraging the best modern technology and content.
“The bottom line is that we are not the Foxtel of 25 years ago, let alone five years ago, there have been so many changes in everything we do at Foxtel,” Delany told Sky News Australia.
“There has been value delivered in this, I think, quite unique strategy that has been to grow through streaming and pick up that new technology to strengthen Foxtel and bring more value to existing customers.
“In the last quarter of last financial year, we saw that all the revenue that we’re losing on the traditional payments side has been more than filled up by the streaming side.
“So the strategy has some merit. We just want people to understand it and go on a journey with us.”