Telstra escalates platform wars with $50m Fetch TV bet
Telstra kicked off its $50 million bet on entertainment and content aggregation, relaunching streaming platform Fetch to replace Telstra TV for its 700,000 users.
In April last year, Telstra bought a 51 per cent stake in Fetch TV, which combines multiple streaming services and channels into one home screen for televisions.
Fetch TV boss Scott Lorson says the platform wars have only just begun.
Over the next year, the telco will reach out to its Telstra TV customers to move them onto a Fetch device instead. Telstra TV has previously operated on a platform provided by US firm Roku. Adding Telstra TV’s existing customers, there will be 1.3 million Australian homes using Fetch.
Telstra’s foray into owning its own content aggregation platform sets the company up to compete with Foxtel, in which Telstra owns a 35 per cent stake. Foxtel aims to launch a new consolidated streaming interface product, currently called Magneto, later this year.
“Focus in recent years has been on the streaming wars. As that market matures with share positions largely ingrained, the focus now shifts to the platform wars,” Fetch chief executive Scott Lorson said.
“The launch with Telstra, and pending migration of Telstra TV subscribers, is a seminal event for Fetch, allowing us to scale quickly and secure a strategic position in the platform ecosystem.
“With Telstra on board, we are now well positioned to expand our content partnerships, and to invest to win in adjacent markets such as TV operating systems.”
Kim Krogh Andersen, Telstra’s group executive of product and technology, said it bought a majority stake in Fetch to “further evolve the entertainment experience that we offer to our customers”.
“We are excited to be able to offer customers the
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