Quickflix reports 4 per cent growth in paying customers

Revenue in December quarter was $4.8 million, down 5 per cent on previous quarter

Online and DVD rental company Quickflix (ASX: QFX) has reported a 4 per cent increase in paying customers to 102,248 following the launch of streaming services on consoles including the Sony PlayStation 4 during December 2013.

In an ASX announcement, the company said it had 18,552 trial members as of December.

In March 2013, Quickflix reported paying customer numbers of 113,036.

Quickflix CEO Stephen Langsford said that streaming momentum continued to build in the December quarter with the number of hours streamed increasing by 23 per cent over the previous quarter.

“New platforms launched during this period including the PlayStation 4, LG smart TVs, TiVo and Amazon Kindle Fire added to the demand,” he said in a statement.

Revenue was $4.8 million, down 5 per cent on the previous quarter. Net operating and cash outflow for December was $0.93 million.

According to Langsford, “significant content licensing deals” are expected to be signed over the coming weeks which will support the company’s long term growth objectives.

Quickflix is also due to be launched on the Xbox One console later in 2014.

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Read more: Quickflix suffers $10m loss

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1 Comment

Michael

1

As a long term customer of Quickflix it has been very noticeable that since they began the streaming service they have reduced their inventory of Blu Ray discs for new releases. Prior to streaming we were always sent the discs in our Queue within days of them becoming available, more often than not we are now waiting weeks for new release discs. I used to love Quickflix now we are seriously questioning the value of the service. If they continue in this way then I doubt that they will be able to sustain any type of income to be profitable.

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