Foxtel executive Peter Tonagh has confirmed that streaming service Presto will cease operations in January after Foxtel buys out its partner, Seven West Media.
“Presto will cease on 31 January 2017,” Foxtel’s statement reads. “It has been great working with the team at Seven on Presto and we look forward to future collaborations. We are delighted to be able to offer Presto subscribers access to the new look Foxtel Play, which we know will be highly attractive to them.”
It’s difficult to say whether access to Foxtel Play will appeal to existing Presto customers, and there has been no word yet as to what the pricing structure might be after January 31. Since its launch in March 2014, Presto has always struggled against its competitors, Stan. and Netflix, suffering due to a higher price point and a clunky, counter-intuitive interface. Despite a decent offering of shows and movies, its failure to address those fundamentals seems to have proved fatal.