Australian-owned video streaming service Stan has inked a new content deal with two US production companies, as its active subscriber count ticks over one million.
The Fairfax Media and Nine Entertainment joint venture will soon receive a slew of exclusive new content from Lionsgate and Metro Goldwyn Mayer (MGM). Stan will now have access to new and back catalogue content from Lionsgate’s cable TV studio Starz, while MGM will share its new television service and a range of films from its library.
Several original content series have also been announced.
Stan chief executive Mike Sneesby telling Fairfax Media that the business “continues to be on track with its long-term plan and growth strategy” but did not confirm whether it would reach profit in 2018.
One million active subscribers has long been the magic number for Stan as the marker for profitability, however, the number may now be closer to 1.1 million. Shareholders will be the first to be informed if profit is achieved.
Mr Sneesby said the milestone “is a great indication of how quickly Aussies are changing their TV viewing habits.”
“The Australian television landscape continues to change rapidly, and with that change the ambitions and opportunities for Stan continue to grow,” Mr Sneesby said.
“Premium programming is the key driver of our business growth and strategy and today we have announced some important strategic partnerships that will help us continue to change the face of television in Australia. With these new partnerships with Starz and MGM, it’s clear we’re only just getting started.”
Stan has been making strides in the Australian market since it launch 2015 and remains the biggest local competitor to international player Netflix.
Fairfax CEO Greg Hywood said the streaming site had showed strong gains when handing down the publishers half year results in February, reporting EBITDA growth of 23 per cent and margin improvement and operating costs improving by 29 per cent year-on-year.