Quickflix Growth Accelerates in the September Quarter
Quickflix Limited (ASX: QFX), Australia’s leading online DVD rental and movie subscription company today announced continuing strong growth in subscriber numbers as its paying subscriber base increased eleven percent in the three months to 30 September 2009 to 33,059. This rate of growth, which exceeded that of the previous quarter, was in line with the Company’s expectation. Highlights for the quarter were:
• Paying subscribers of 33,059 at 30 September, up 11 percent in the quarter (+31 percent YOY)
• Revenue receipts of $1.74 Million and operating payments of $2.18 Million
• Net operating and investing cash outflow of $0.44 Million for the quarter
• Successfully completed a $1.2 Million rights issue following the $0.75 Million placement in June
• Net cash at bank at 30 September 2009 was $1..75 Million
Momentum is building from the solid base established in the last financial year. Quickflix has increased its investment in growth to acquire new subscribers and expand its content library following completion of the recent capital raisings, supporting further momentum growth.
A combination of factors is driving subscriber growth. Organic search traffic is increasing with growing brand awareness and the conversion of all web traffic to sign-ups is also increasing. New partnering activities have also contributed to growth. The introduction of new subscriptions in prior periods including lower price points and capped plans improves retention and long term subscriber profitability whilst reducing the rate of growth in revenue and fulfilment cost in the short term.
The outlook for the coming quarter is continuing strong growth with the Company targeting a further 10 percent increase in paying subscribers.
Related posts:
- Quickflix Ends FY with Turnaround Performance Quickflix Limited (ASX: QFX) posted its results for the June...
- Netflix in the US Delivers Strong Growth – Good Lessons for Quickflix Netflix in the US has just released its quarterly results....
- Quickflix Releases 2009 Annual Results Quickflix has released its 2009 annual results, showing a strong...
- Quickflix Successfully Completes Capital Raising Quickflix Limited (ASX: QFX), Australia’s leading online movie subscription company,...
- New Appointments to the Board of Quickflix Quickflix (ASX: QFX) Australia’s leading online DVD rental and movie...
Related posts brought to you by Yet Another Related Posts Plugin.
