Foxtel will reduce the cost of its streaming movie service to AU$9.99 from this Sunday, as competition from competing services such as Quickflix, EzyFlix.tv, and the outsider Netflix heats up.
The online movie streaming service launched earlier this year on iOS, Android, PCs, and Chromecast at an introductory price of AU$4.99 for the first month, and AU$19.99 per month after that, but from Sunday August 17, Foxtel has today announced that the service's monthly price will be reduced to AU$9.99 per month.
"With Presto's vast offering of recent blockbusters and classic films, we have delivered one of the best value-for-money movie subscription streaming services anywhere," Shaun James, director for Presto and video-on-demand said in a statement.
Newer releases are mostly only available on a pay-per-view basis, and Foxtel said the service has no plans at this stage to include TV shows.
The price drop comes as new rivals such as EzyFlix.TV enter the market, while Quickflix, which has TV show content, seeks to gain momentum in the video streaming market after its own price drop to AU$9.99 per month earlier this year.
ZDNet broke the news in June that US TV and movie streaming giant Netflix is negotiating with film distribution companies in Australia to licence content for a potential launch in Australia in 2015.
Presto was last week listed as one of the services listed on the Digital Content Guide launched last week by content owners in a bid to dismiss claims that content in Australia is not affordable or easily accessible.
Communications Minister Malcolm Turnbull has warned the content owners that as part of the government's plans to crack down on Australians infringing on copyright, TV and film studios need to ensure that their content is made available globally in a timely and affordable manner.