Quickflix delivers 10% customer growth
January 20, 2014
Quickflix, the Australian TV streaming service, continued its growth trajectory in the December quarter, adding over 10,000 new customers and experiencing strong demand for its service. Total active customers increased by 10 per cent to 120,800 in the quarter including 18,552 trialists.
The number of paying customers grew by 4 per cent during the quarter to 102,248. Revenue in the December quarter was A$4.8 million, 5 per cent lower than the previous quarter. In the first weeks of the current quarter revenue is tracking higher on the larger base of paying
customers.
Net operating and investing cash outflow for the quarter was A$0.93 million. Streaming momentum continued to build in the quarter with the numbers of hours streamed increasing by 23 per cent over the previous quarter. The level of streaming was 40 per cent higher than the equivalent period in the prior year. New platforms launched during the quarter including PlayStation 4, LG Smart TVs, TiVo and Amazon Kindle Fire added to the demand.