The boss of News Corp-controlled cable TV and streaming company Foxtel has signalled the owner of popular HBO shows such as White Lotus and House of the Dragon will sign another licensing deal with a local player, a move that would delay the US content giant’s plans to launch its own streaming service in Australia.
Foxtel CEO Patrick Delany has said his company, which holds the exclusive rights to HBO programs such as Euphoria and Succession, is in a “very good position” to renegotiate with HBO’s parent company, Warner Bros Discovery, as he fights for the crown jewel of international content against rival bidder Stan.
Foxtel and Stan will compete this year for exclusive HBO content such as The White Lotus.Credit:Fabio Lovino/HBO
“The whole world’s changed, hasn’t it,” Delany said in an interview following the release of Foxtel’s second quarter results last Friday. “The architect of the throw everything into streaming – Bob Iger – is back into his job and has reassessed that strategy as though it wasn’t his.”
“We’re seeing a lot of the streamers doing exactly the same. We think that whatever decision is made, whether it’s to go over the top or continue to provide output, we’re in a very good position to work with Warner Bros.”
Foxtel outbid Nine Entertainment Co and its streaming service Stan in 2020 for the rights to a range of HBO programs and Warner Bros shows, in a deal believed to be worth up to $200 million a year at its peak. The company also fought Stan for a lucrative deal with US studio NBCUniversal, a move which prompted Nine chief executive Mike Sneesby to fly to talk to Hollywood studios about other ways to acquire content.
Foxtel Group chief executive Patrick Delany.Credit:Getty Images
Delany’s most recent comments have occurred as Foxtel fights to retain that content, going head-to-head once again with Stan, owned by Nine Entertainment Co (the owner of this masthead). HBO is widely considered the jewel in the entertainment crown: it has transformed the television industry through popular hits such as The Sopranos, The Wire, Game of Thrones. Its programs attract millions of viewers all over the world.
When HBO bosses came to Australia late last year, Nine and Stan executives discussed a strategic partnership with Warner Bros Discovery, which would allow the latter to run its programs locally without having to launch a standalone service. Media sources, who requested anonymity to speak freely, have reiterated any deal with Stan could involve handing over a stake in the streaming service to Warner Bros Discovery in exchange for content exclusivity.
It is unclear how long a deal might run. Industry insiders expect it will be a short-term arrangement that lines up with a similar deal between Warner Bros Discovery and British pay TV network Sky, which expires at the end of 2024. Such a deal would give Warner Bros Discovery time to assess whether a direct-to-consumer model is still viable while receiving large sums for its highly sought-after content. Due to the quality of the content, it could become one of the most expensive entertainment deals in Australian history
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