Nine and News Corp’s Foxtel discussed how they could work together in the subscription streaming service to better compete against international giants like Netflix, Disney+ and Amazon.
Media companies working together to better compete in the crowded streaming space is already happening. Paramount+ has launched in a number of international markets in partnerships with other companies – in the UK, for example, the company works with Sky to make the platform available to Sky Cinema subscribers at no additional cost, while it launched in France with a partnership with Canal+.
Deloitte consulting director and media and entertainment specialist Jeremy Smith said consolidation in Australia’s streaming market may begin to occur as willingness to pay for content drops. “Nearly half of respondents to our 2021 Media Consumer Survey suggested they’d be willing to watch ads on a streaming subscription if it reduced the cost of subscription substantially.”According to Mr Smith, Australians have been willing to pay for more rather than less streaming services so far.