Subscription video on demand (SVOD) platform Presto has flagged a major expansion of content now that the ACCC has formally cleared a joint venture arrangement between Seven West and Foxtel, and says last week's deal securing first-run rights on Aquarius is a sign of things to come.
As flagged by AdNews last week, Presto told media this morning that the arrangement over Aquarius is something it would seek to replicate in coming weeks.
Interim CEO of Presto Sean James said the formalisation of the joint venture gave it scope to ramp up its content game.
“We have an enviable library. We have the premium content. We have the upcoming first-run ‘only on Presto’ programming that we’ll be unveiling over the coming weeks. We have great partners and we are committed to delivering the best consumer experience,” James said.
“We’ve already confirmed key agreements with content providers such as HBO, Showtime and with our key shareholders Foxtel and Seven West Media, and we recently announced our first-run exclusive Australian launch of the entire series of Aquarius.
“Our customers can expect similar announcements as we move forward.”
Last week Presto joint venture partner Seven West said it was increasingly eyeing Presto as an additional content distribution arm.
“Presto gives us the opportunity to further extend our reach and content in a new business model,” a spokesperson said.
“We see SVOD through Presto as a tremendous platform to add to our audience delivery and complement our leadership in broadcast television.”
Currently, Presto's library stands at 4443 TV episodes across 254 titles, and 879 movie titles. This equates to over 5000 hours of content.
Last week Presto also unveiled a deal with fellow SVOD player Quickflix, with Quickflix to act as a re-selling agent for Presto.
Foxtel confirmed to AdNews that it was on the lookout for a re-selling agent to complement its existintg deal with Telstra, dismissing speculation that it was put off a full takeover by a risidual rights deal in Quickflix held by Stan parent company StreamCo.
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