Stan, the local rival to US media streaming giant Netflix, has hit 450,000 subscribers.
Fairfax Media, one half of a $100 million joint venture in Stan with Nine, told its AGM today that the streaming service had 450,000 gross signups and was on the way to end the calendar year somewhere between 300,000 and 400,000 net subscribers.
But that figure is less than half the Netflix number, which likely hit 1 million subscribers last month after just six months in the market. The latest Roy Morgan Research had Netflix at 968,000 subscribers in September, reaching 10.5% of Australian homes. The October figures are due out next week and Netflix has been growing at more than 100,000 new customers per month.
Like Netflix, Stan is building it own content, commissioning Wolf Creek, a series based on the hit big-screen Australian thriller.
Fairfax says Stan, a $10 a month service, provides access to the largest content library of TV shows and movies in Australia.
Netflix, which launched in Australia in March, has made a name with its original content including Orange is the New Black and House of Cards. Netflix is reported to have hit 968,000 subscriptions in Australia.
Fairfax said its 2016 revenues so far are up 2% to 3%. Metro Media, which includes Domain, is up around 10%, but publishing revenues are down 9%. Domain’s overall revenue is up 68%, with its total digital business up 43% and domain.com.au up 45%.
* Disclosure: Business Insider is published by Allure Media, which is 100% owned by Fairfax Media.
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