Nine Entertainment and Fairfax Media JV invest $100 million for StreamCo launch
Nine Entertainment Co. (“Nine”) [ASX:NEC] and Fairfax Media Limited (“Fairfax”) [ASX:FXJ] Joint Venture to launch Australian Subscription Video-On-Demand (SVOD) service (“StreamCo”).
$50 million each from Nine Entertainment Co., Fairfax Media Limited to the venture over a multi-year period.
Expected launch of StreamCo: 2015
Current status of the project: (August, 2014)
Content deals concluded, finalising technical infrastructure.
StreamCo will be owned 50:50 by Nine and Fairfax.
With on-demand, internet-delivered content trending among media consumers, SVOD services are set grow significantly in Australia over the next decade.
Nine's expertise in Television industry and its understanding of Australian viewer habits.
Fairfax’s experience and strength in subscription services and digital products.
StreamCo service is expected to benefit from the combined marketing and cross promotional capabilities of Australia’s leading media brands.
Access to a broad range of Local and International programmes.
Fixed Monthly sucbscription with no minimum commitment.
NEC Fairfax Media
Nola Hodgson Brad Hatch
Head of Investor Relations Director of Communications
+61 2 9965 2306 +61 2 9282 2168
Director of Communications
+61 2 9965 2296