Foxtel Feels The Pressure Following Game Of Thrones Finale
Struggling pay TV provider Foxtel is attempting to stop a mass exit of subscribers following the end of the hit show Game of Thrones.
Foxtel on Monday sent an email to select customers offering a discount of $10 a month for the next year.
The email to Foxtel Now subscribers said: “There is life after Game of Thrones.”
Foxtel has been in strife as it continues to struggle with growing debt, earlier this month revealing it’s set to cut costs to its non-marquee sporting content and increase its subscription prices.
News Corp, who owns 65 per cent Foxtel (the other 35 per cent owned by Telstra), disclosed the financial woes of the struggling provider to the ASX as it tries to refinance Foxtel with a total debt of $US1.68 billion ($AU2.42b).
The ASX announcement earlier this month revealed that Foxtel lost $417 million in the 2018 calendar year, excluding a $120 million tax benefit.
News Corp also gave Foxtel a $300 million shareholder loan, while Telstra decided not to boost more capital into the business.
Foxtel Now’s latest offer and attempt to salvage its subscriber-base ends at the end of the month.
B&T reached out to Foxtel to ascertain how many subscribers signed up ahead of GoT‘s season 8 premiere, and how many have cancelled since.
Foxtel declined to comment on numbers, however, a spokesperson said: “We’re proud to have had the privilege of bringing our customers one of the greatest TV events of all time and are equally thrilled with the subscription response to Foxtel Now that came with the lead up to Game of Thrones.”
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