Foxtel slashes prices and puts more premium content in basic package in bid to tackle threat of streaming rivals

Foxtel CEO Richard Freudenstein at today's announcement

Foxtel CEO Richard Freudenstein at today’s announcement

CEO of Foxtel Richard Freudenstein has today announced the company is going to slash its prices for new subscribers and rework its offerings as it seeks to combat the entry of new cheap online streaming services to the market.

Speaking at the ASTRA Conference this morning the pay-TV boss said the company is set to halve the price of its basic package from $50 to $25, telling the audience he is “absolutely confident” the new pricing structure will drive a subscriber growth and a “seismic shift in the Australian media environment”.

“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.

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