Quickflix subs up 16%
April 15, 2014
Quickflix, the Australia and NZ online streaming service, experienced a strong March quarter of growth increasing its base of paying customers by 16,000 or 16 per cent to 118,557. Total active customers (paying customers plus introductory trialists who have registered with a valid credit card) increased by 13 per cent to 137,059. Organic growth through customers signing up on Quickflix-enabled devices; increased marketing and promotional activity; and underlying demand for streaming contributed to the momentum in the quarter.
Revenue for the quarter was higher in line with a growing paying customer base. Revenue recorded of A$5.2 million represented an increase of 9 per cent on the previous quarter. The growth came from an increase in the number of monthly subscriptions and demand for additional streaming of pay per view movies and pay per episode TV series.
The continued investment in streaming content including new licensing deals announced in the quarter is servicing demand. The strength in streaming is reflected in Quickflix recording its third consecutive quarter of more than 20 per cent growth in streaming volumes.
Over 50 per cent of Quickflix streaming is to smart TVs and game consoles with the balance to mobile, tablet, laptops and other devices. Increasing uptake of smart TVs pre-loaded with Quickflix plus demand for new generation game consoles like PlayStation 4 are increasing the addressable market for Quickflix. (The launch of Quickflix on XboxOne, previously scheduled for the March quarter is now anticipated for later in April.) Already customers in Australia and New Zealand have registered over 0.3 million devices to stream Quickflix, a number that increased by 24 per cent in the March quarter alone.