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In a move to make it more competitive against recent market entrant Netflix, Australian TV and movie streaming service Quickflix has entered an agreement with Foxtel in which the Presto movie and TV subscription video on demand streaming service will be distributed by Quickflix to existing and future customers.
Presto will be available within Quickflix on an extensive range of consumer devices, including Smart TVs, game consoles, mobile and other devices. Presto streaming will complement Quickflix’s transactional streaming (pay per view movies and pay per season TV series) and DVD subscription services.
The agreement enables Quickflix customers to access Presto’s line-up of movie and TV programming including premium TV shows from HBO, Showtime, eOne, 21st Century Fox and a vast selection of Movies from major Hollywood studios. Quickflix will be an affiliate reseller for Presto to reach new subscription streaming customers including the large number of Australians who are still watching DVDs and yet to discover streaming. The DVD market is estimated to be worth over $1 billion per annum.
Commenting on the agreement, Quickflix CEO Stephen Langsford said: “We are very pleased to enter an agreement with Presto, backed by Australia’s largest entertainment company, and the number one free-to-air broadcaster. Streaming is taking off and this agreement will significantly bolster our content offering for existing and future Quickflix customers whilst improving our overall operating economics. After a review of prospective partners, it was obvious that Presto has the most impressive line-up of subscription streaming movie and TV content and we are delighted to be able to deliver this to our existing and future customers through the Quickflix experience.”
The agreement is subject to conditions precedent including in relation to due diligence and funding arrangements.
The timing of the launch of Presto within Quickflix will coincide with a major upgrade of Quickflix’s user interface across all major device platforms over the coming months.