In 1999, when the Australian pay-TV industry was less than four years old, Foxtel CEO Tom Mockridge made a prediction: a big, bold and -- as it turned out -- wildly incorrect prediction. Within 10 years, he said, pay-TV would be installed in three-quarters of Australian homes.

Yet by 2009 only 29% of Australian homes had pay-TV. Today, according to stockbroking firm CCZ Statton Equities, it’s at 28% -- one of the lowest rates in the developed world.