Presto boss fights to assert brand

PRESTO has struggled to establish its brand in the crowded streaming market, with boss Shaun James acknowledging the difficulty in being owned by traditional media players.

Mr James said Presto had been challenged since its launch in March, 2014, by its association with parent companies Foxtel and Seven West Media, and was only now starting to create its own identity in a market it shares with Netflix, Stan and others.

The former Warner Music and Network Ten executive said Presto had focused heavily on big ticket content in its early advertising, which attracted subscribers but did not necessarily establish the brand in the minds of Australian consumers.

“If you think of our stakeholders and shareholders in Foxtel and Seven, we’re a startup within two very successful established businesses,” Mr James said at an American Chamber of Commerce in Australia meeting.

“Creating a brand identity and position for Presto has not been easy,” he said.

“If you’ve got 33 sets of hands on the steering wheel, there’s a good chance you’re going to run off the road.”

He said many Australians “gamed” streaming services by consuming heavily during the standard 30-day free trial before cancelling their subscription, but said take-up was healthy with streaming viewed as an adjunct to, rather than a replacement for, other media.