Quickflix increases paying customers by 27 per cent

The company recorded a $5.0 million loss.

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

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