Netflix
IN PHOTO: The headquarters of Netflix is shown in Los Gatos, California in this file photo taken September 20, 2011. Netflix Inc reported higher profit that beat Wall Street expectations for the quarter that ended in March, boosted by the addition of 2.25 million customers to its movie and TV streaming service in the United States. REUTERS/Robert Galbraith/Files Reuters

With Netflix invading Australia in March, local rivals are now planning on how to beat the international on-demand Internet steaming media. Foxtel and Seven West have joined forces to form Presto Entertainment, which is expected to kick off just before Netflix does.

Presto Entertainment is an equally-owned collaborative venture between the companies. Foxtel already has Presto service that currently only offers movies. Presto Entertainment is separate and will complement the existing Presto Movies, and will offer a library of international and local subscription on demand television content.

According to the press release, the new service will “feature content from Foxtel and Seven West Media’s broad range of locally commissioned and internationally acquired content including drama, comedy, factual and entertainment programming.” It added that the announcement of what specific programs are included will be made in the coming weeks.

Pricing is yet to be announced as well, though interested subscribers may note that the Presto Movies service is priced at $9.99 per month, so the new service might also be offered more or less the same amount.

“We’re thrilled to be taking these next steps with Seven West Media to establish the new Presto Entertainment service. Customers have already recognised the value of the unrivalled movie programming we’ve had on tap since Presto’s launch and we’re proud to have delivered such a great product,” Foxtel CEO Richard Freudenstein said. “TV is the final piece in Presto’s entertainment puzzle and today’s news positions us well to take it to the next level by offering the best in local and international TV to new and future subscribers.”

As Mumbrella reports, the long-expected move of Seven and Foxtel leaves Network Ten as the only major free-to-air service that has yet to announce its next plan of attack. Fairfax Media and Nine Entertainment Co have its joint venture Stan, which will also launch in 2015.

In November, Netflix has finally admitted the long-rumoured but often denied rumour that it will be launching local versions in Australia and New Zealand. Although the potential clientele is vast, analysts predict that its biggest competition in the market is itself. There are Australians and Kiwis who are already subscribed to Netflix US using fake IP addresses to hide their location.

Read: Netflix Landing in Australia, New Zealand in March

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