Australia’s first subscription high-definition TV package, Foxtel HD+, has signed up 40,000 subscribers since its June launch, barely two months ago. But while that may look like 20,000 a month, with 15,000 subs signed up even before launch, the real growth figure is more like 12,500 a month.

Encouragingly though, the service requires viewers to shell out A$200 for the new Foxtel iQ2 320GB/three-tuner personal video recorder set-top box, plus A$10 a month for the PVR subscription and A$15 a month for a five-channel high-definition programming package. Clearly some Foxtel subscribers see the HD/PVR package as value, depite free-to-air high-definition services having already been available in Australia for some years.

Penetration of the iQ service, which uses technology from N.D.S., increased by nearly 50% in the year to the end of June, with almost one quarter of the 1.54 million base taking a Foxtel iQ subscription. Foxtel will launch a new version of the standard-definition iQ box over the next year.

Revenue for the year grew 17% to A$1.7 billion, with average revenue per user per month at nearly A$85. EBITDA rose 48% to A$237 million, with a profit before tax but after depreciation and including joint ventures of A$157 million, more than double the previous year’s A$76 million.

CEO Kim Williams said: “Because of our continued investment in product innovation for consumers, Foxtel’s story is one of continued growth across all key metrics in the face of challenges to consumer confidence in the current economic environment. More consumers are subscribing to our service, more people are watching it and more people are enjoying the benefits of our exclusive and compelling content. The successful launch of Foxtel’s HD+ and rapid growth in iQ penetration shows Foxtel continues to be the most innovative media company in Australia.”

Williams said more channels were on their way in 2009 with the launch of a new satellite in May. The company would also continue to examine other methods of distribution, such as broadband delivery of TV. However, the company declined to break up subscription figures for its Foxtel by Mobile service on part-owner Telstra’s third-generation mobile network, saying only the service “continues to grow well”.

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