News Corp chief executive Robert Thomson has shrugged off the threat that US streaming giant Netflix and other video streaming operators pose to his company's half-owned pay TV monopoly Foxtel.

Foxtel, which News owns together with Telstra, slashed the price of its basic subscription package from $50 to $25 last year to combat the arrival of Netflix Australia and grow its stagnant market share.

Foxtel's market penetration has long been lingering around 30 per cent. Credit:Phil Carrick

It has also created its own subscription video-on-demand (SVOD) service, Presto, with Seven West Media which also competes with Stan, a $100 million joint venture between Nine Entertainment and Fairfax Media, publisher of BusinessDay and The Australian Financial Review.

Mr Thomson was adamant Foxtel could bolster its market penetration, which has been lingering around 30 per cent, despite the intense competition between SVOD players.