Optus has extended its longstanding partnership with media company Foxtel, with an extension for the provision of satellite services until 2031.
Optus Satellite owns and operates Australia and New Zealands largest fleet of spacecraft with five satellites currently in geostationary orbit that service our broadcast, corporate, and government customers. The contract extension, along with efficiencies agreed with Foxtel, reaffirms Optus Satellites leading position in the ANZ satellite market.
As we look to the future of the satellite business, this expanded services agreement builds on our legacy of delivering world-class satellite services and further strengthens Optus position as Australia and New Zealands leading provider of satellite services, said Ben White, Optus Managing Director, Wholesale, Satellite and Strategy.
Foxtel has partnered with Optus since 1998 to deliver their premium live sport, movies, drama, news and entertainment content including Australias only dedicated, live 4K broadcast channel to both regional and metropolitan areas across two Optus satellites in orbit over Australia.
Our collaboration provides resilience for existing services and an opportunity for future expansion as Australians continue to embrace 4K viewing and see 8K video on the horizon. This commitment provides Foxtel a proven and reliable platform for the delivery of high-quality video images watched on the large screens in homes and other venues over the next 11 years, added Mr White.
We are pleased to continue our multi-layered relationship with Foxtel into the next decade and to demonstrate that satellite remains one of the best ways for Foxtel to provide a rich viewing experience to their customers. Optus is proud of the role we play to connect millions of viewers with Foxtels essential content, and we look forward to continuing to grow our long-term relationship.
Financial terms are confidential.