SpongeBob SquarePants and other shows will likely remain on Foxtel after the company's joint venture agreement with ViacomCBS was extended.
Nickelodeon, which airs shows including SpongeBob SquarePants and Paw Patrol, operates in Australia as a joint venture between ViacomCBS (the brand's U.S. parent) and Foxtel. The joint venture was first formed in 1995 and was set to expire in January 2020 but Foxtel and ViacomCBS have agreed to an extension. The new length of the joint venture agreement is not clear.
The venture includes all of Nickelodeon’s businesses in Australia including pay TV, merchandising and licensing deals with hotels and theme parks like SeaWorld, but Foxtel is the driver of most revenue for the business in Australia. Nickelodeon titles are also available on Stan, Netflix and Amazon Prime in Australia.
Sources close to the discussions have indicated Foxtel will re-sign the distribution deal which will allow it to have the Nickelodeon and Nick Jr. channels on its set top box and Foxtel Now.
Foxtel is separately preparing to launch an entertainment-based streaming platform in coming months, based on the technology platform the company built for its sport-based service Kayo Sports. It is unclear whether Nickelodeon shows will be included on this new service.
"Foxtel’s support of Nickelodeon-branded businesses in Australia has been and continues to be instrumental to its two decades-plus of growth and diversification across television, digital, consumer products, live events and location-based experiences," a ViacomCBS Network spokesperson told The Sydney Morning Herald.
ViacomCBS, which owns Network Ten, is making a number of changes in the local market. In January the company appointed Network Ten boss Paul Anderson as executive vice president of the Australia and New Zealand operation, a decision which will see ViacomCBS' local operations integrated with the broadcaster. Two weeks ago saw ViacomCBS announce that the company would be ending ends its sales representation arrangement with Foxtel's advertising business, Foxtel Media and Mr Anderson became a director of Nickelodeon Australia on Tuesday, February 18.
For the year ending September 2018 Nickelodeon Australia reported a profit of $26.7 million and revenue of $45 million. The joint venture has paid distributions totalling $53 million to its venture partners over the past two financial years.
Foxtel declined to comment.
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