Quickflix increases paying customers by 27 per cent
- 01 March, 2013 08:30
- Comments 1
Quickflix's revenue increased 32.8 per cent in the half year to December 2012 to $9.8 million, driven by an increase in the average monthly number of paying customers.
Quickflix increased its paying customers by 27 per cent to 119,520. However, the average monthly revenue per paying subscriber dropped 5 per cent year-on-year to $15.12.
The company recorded a $5.0 million loss; a smaller net loss than the previous year.
Quickflix stated in its half-year report that the investment phase of launching a digital streaming service is now largely complete.
However, it admitted that converting interest in Quickflix’s service into customer and revenue growth will be challenging.
Earlier this year Quickflix chief technology officer, Tim Parsons, told Computerworld Australia the company is still finding its feet and figuring out “how to make this work”.
Established in 2004, Quickflix is now going through a transformation, shedding a third of its workforce at the end of last year and implementing other restructuring activities.
Parsons said the company is aiming to reach profitability this year.
“If we can achieve break-even this year, then that would be a major achievement – that would be a serious milestone for Quickflix. That will also open up a lot of other [opportunities] for us, so I think that’s our principle threat right now – ourselves,” he previously said.
Follow Stephanie McDonald on Twitter: @stephmcdonald0
Follow Computerworld Australia on Twitter: @ComputerworldAU
Recommended
Join the Computerworld Australia group on Linkedin. The group is open to IT Directors, IT Managers, Infrastructure Managers, Network Managers, Security Managers, Communications Managers.
- Bookmark this page
- Share this article
- Got more on this story? Email Computerworld
- Follow Computerworld on twitter
- Spear-Phishing Email: Most Favored APT Attack Bait
- Power of Three: Building Mobile Initiatives Guided by Business Goals, Technology and Governance
- Mobility Apps: What every developer should know
- Leading Through Connections – Insights from the Global Chief Executive Officer Study
- New Demands for Real-time Threat Management
-
Transfield wins $366m in new NBN work
-
Good riddance Google Reader: Feedly throws switch on alternate RSS service
-
Mobile app data protection not our responsibility, say Australians
-
NBN Co should prepare for Coalition government: NBN committee
-
Google adds more retailers for Chromebook
Comments
Chuyuo
1
There aren't enough people left to be a threat to themselves! Lost a third of their workforce? Another third quit! Buyer beware. Bring on Netflix...