Hoyts has confirmed it has put its video-on-demand service Stream on hold.
The cinema group confirmed the move to AdNews, stating: “We have decided to postpone the launch of our Hoyts Stream product while we assess this initiative in the context of our forward growth strategy, our investment priorities and the current competitive market dynamics.”
Hoyts has been working on Stream for more than two years as it moved to build on its existing DVD rental business Oovie, announcing it in 2012 and then delaying the launch date from early 2013 to July 2014.
Hoyts is currently carrying out a strategic review of all its operations under the leadership of chief executive Damian Keogh, who took the helm from Delfin Fernandez in February after two-and-a-half years as CEO of Val Morgan.
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