Quickflix returns to growth
Quickflix, the Australian movie streaming and rental company, delivered stronger growth in the September quarter as it resumed a focus on subscriber acquisition following its successful rollout of digital streaming over previous quarters.
Whilst continuing to invest in new content and integration of its pay-per-view and subscription streaming service in new consumer devices, the company is transitioning from the heavy emphasis on capital intensive technology development and rollout of the past 9 months, to operating its “Post & Play” online DVD rental and streaming services and on boarding of subscribers.
Paying customers grew by 7 per cent during the quarter finishing at 119,593, whilst total customers increased by 9 per cent to 129,274. Revenue increased 4 per cent to $5.3 million. Promotional campaigns delivering subscriber growth late in the September quarter means the full benefit of the revenue uplift will be realised in the December quarter.
The Quickflix streaming service will launch on the Microsoft Xbox platform imminently.