Netflix rival owned by Australian version of DStv is dead

Presto, a video streaming service that was part-owned by Australian broadcaster Foxtel, will shut its doors on 31 January 2017, Reuters reported.

The service launched in March 2014 and was co-owned by Foxtel and free-to-air broadcaster Seven West Media.

Neither company gave a reason for the closure, but Seven West said it sold its half of Presto to Foxtel, and that Foxtel made the decision to close it.

Reuters said the closure is a sign that local start-ups are struggling against larger US rivals like Netflix.

More on Netflix

Get rid of low data caps: Netflix

This map shows where all Netflix’s servers are located

Netflix rolling out HTTPS streaming

Netflix blocking VPNs – subscriber growth slows and share price tumbles

Latest news

Partner Content

Show comments

Recommended

Share this article
Netflix rival owned by Australian version of DStv is dead