New streaming services like Kayo and Binge have re-invigorated Foxtel’s finances and subscriber numbers.

Foxtel CEO Patrick Delany said the pay television company was reducing costs while increasing revenue by using the best of modern technology and content.

“The bottom line is we are not the Foxtel of 25 years ago, let alone five years ago, there have been so many changes to everything we do at Foxtel,” Mr Delany told Sky News Australia.

“There’s been value delivered in this, I think, quite unique strategy which has been to grow through streaming and pick up that new technology to strengthen Foxtel and give existing customers more value.

“In the last quarter of the last financial year, we saw any revenue we’re losing on the traditional pay side has been more than backfilled from the streaming side.

“So the strategy has got some merit about it, we just want people to understand and come on the journey with us.”

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