Australia’s pay-TV leader Foxtel has made 200 staff redundant, as it struggles to cope with the impact of coronavirus and the changing media landscape. It has also put 140 additional staff, mostly …
and the changing media landscape. It has also put 140 additional staff, mostly in its Fox Sports division, on leave until June.
The coronavirus outbreak has caused the cancellation of most sporting events in Australia and abroad, thus eliminating Foxtel’s competitive advantage. It has made several recent attempts to make its content packages more attractive, including slashing monthly prices, and offering its 10 movie channels for free to its sports subscribers until the end of June. Foxtel launched its own OTT service Kayo, but this too is understood to have been hit with redundancies.
“Restructuring and changing the way the company works is not an easy thing to do at any time. But with the impact of COVID-19, the only option is to act now to ensure we ride out the current situation and remain strong to compete with local and global media companies. “We need to be prepared for a scenario in sport where season starts are delayed further. It is clear all codes are struggling with significant financial challenges and we should anticipate that the future shape of sport in Australia will be very different.”
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