Netflix in the US Delivers Strong Growth – Good Lessons for Quickflix
Netflix in the US has just released its quarterly results. Netflix announced strong quarterly growth in both revenues and in profit. As Netflix and Quickflix have similar models, it is interesting to see how Netflix is performing in the US.
This article is courtesy of the Los Angeles Times and was published on the 24th July 2009.
Quickflix Ends FY with Turnaround Performance
Quickflix Limited (ASX: QFX) posted its results for the June quarter today concluding a year in which the Company performed strongly in a very challenging economic environment.
Highlights for the year were:
• Paying subscribers as at 30 June, 2009 were 29,910 up 17 per cent for the year with most of the growth coming in the last two quarters;
• Revenue receipts grew by 12 per cent to $6.9 Million whilst operating payments were down by 14 per cent to $7.4 Million;
• Net cash outflow reduced from $4.95 Million in the previous year to $1.48 Million for the year ended 30 June 2009; and
• Net cash at bank at 30 June 2009 was $1.19 Million having recently successfully completed a $0.75 Million private placement.
In the June quarter, Quickflix repeated the solid growth in paying subscribers of the previous quarter. This was all the more pleasing as it was achieved on minimal marketing spend, Quickflix Managing Director Simon Hodge said.
“Our service offering is in the sweet spot for Australian householders looking for affordable quality entertainment. As a brand we also have early mover advantage as increasingly consumers turn to online” Mr Hodge said.
In addition to the private placement which raised $0.75 Million in June, Quickflix has recently announced a fully underwritten 1 for 6 rights issue to raise a further $1.2 Million to fund its expansion.
Founder and Executive Director of Quickflix, Stephen Langsford said: “The outlook for the coming quarters is very positive. The capital raised from the recent private placement and the announced fully underwritten rights issue will fund the next step change in our subscriber numbers and build on our momentum”.
hippo.com.au Expands Regional Management Team
Niche jobs website, hippo.com.au, today announced the appointment of its Area Managers covering its operations across Australia and greatly improving its communications and services to the industry.
The appointment of an Area Management team is one of the first steps in the company’s aggressive growth plan since being acquired by Classified Ad Ventures Pty Ltd in April.
The team’s expertise is in online classified advertising and customer service with New South Wales being covered by Jodie Gray; Tatiana Majalica, Victoria and Tasmania; Jacqui Voss, Queensland and Misty O’Connell-Lever, South Australia and Western Australia.
CEO of Classified Ad Ventures and hippo.com.au, Simon Baker, views the appointment of the team as one of the most important steps in the company’s growth.
“Providing the best possible service and advice to our customers and the industry is paramount to our future success, so it is therefore logical that we get these people on the ground as soon as possible” said Baker.
“The team we have put together are very experienced in this advertising space and I am extremely confident that our customers will see quickly the benefit of their knowledge”
In addition to this move, hippo.com.au have already implemented a new look and branding to the site with plans for additional functionality and improvements well underway.
hippo.com.au has historically targeted the 15 – 24-year-old demographic (often-called Gen Y) for part-time and casual jobs nationally. hippo.com.au ‘s vision connects employers looking for young people to work for them with the many young people searching for part-time and casual work that suits their lifestyles.
In consultation with its customers and feedback from the market, hippo.com.au is extending its reach to include part time vacancies for 15 year olds right through to 67 years of age. Part time jobs include casual, flexible, job share and basically anything other than full time employment.
Over 100,000 Australians have registered with hippo.com.au. Hippo converts this personal information into a detailed resume that employers can access or have emailed to them as candidates apply for positions. Major employers such as Coles, Kmart, David Jones and Salesforce all use Hippo to help ensure they find the right candidate for the role. hippo.com.au also integrates with many third party HR and ad posting systems for employer convenience.
