One Month Free Usage of Quickflix
Quickflix is a leading provider of internet based DVD rental in the Australian market. They have over 37,000 titles, home deliver and NO late fees! If you would like to use Quickflix free for 1 month, then check out the following link.
CAV Invests in CarAdvice
Classifed Ad Ventures, through its investment company, CAV Investment Holdings Pty Ltd, has take a stake in the Australian based online automotive site, CarAdvice.com.au. In the process, Simon Baker, the CEO of Classified Ad Ventures, has joined the Board.
CarAdvice has over 450,000 unique visitors per month and has just launched a classifieds section – clearly taking on CarSales.
Here is the announcement from CarAdvice.
CARADVICE TAKES ON CARSALES
Sydney, Australia 10th November 2009 – CarAdvice.com.au – Australia’s largest editorial only automotive site has embarked on an aggressive growth strategy and has the market leader, CarSales, firmly in its sights.
Firstly, Simon Baker, internet veteran and former CEO of the REA Group (realestate.com.au) has invested in the business and joined the board. He brings to CarAdvice a wealth of knowledge and experience in building online classifieds businesses.
Secondly, CarAdvice has just released its classifieds section of the site. Private sellers and dealers are now able to advertise their used cars to CarAdvice’s 450,000 unique visitors (source Google Analytics) at half the price charged by CarSales.
Lastly, six months of editorial improvements and 20% month on month growth have been rewarded with a strong increase in traffic. According to Google Analytics, nearly 450,000 people visited CarAdvice in October. In addition, new research conducted by Nielsen shows that CarAdvice is the 3rd most visited vehicle editorial site in Australia behind Drive and CarGuide and ahead of CarSales.
CarAdvice CEO, David Holmes, said; “CarAdvice has strong momentum and 2010 should deliver strong growth for the business. Over the last 2 years we have built a large and loyal readership for our motoring editorial. We now believe we can leverage this readership into the lucrative motoring classifieds market and take on CarSales in their core revenue area.
“The value of Simon’s online classifieds experience, our continued strong readership growth, and experienced team has positioned us to do well in the online car classifieds market and to chase the car manufacturers advertising dollars.
Car Advice is also positioned to do well in markets outside of Australia as 40% of its traffic being sourced from overseas with the US being the next largest country.”
Commenting on his investment, Simon Baker said, “We invested in CarAdvice as the business has significant growth potential – both in Australia and selected overseas markets. They have already done the hard work in building a large relevant online audience and this positions them well to take on the lucrative automotive classifieds and display advertising markets. In addition they have a strong, experienced and passionate management team. I am looking forward to working closely with the team.”
Quickflix Opens Tasmanian Distribution Centre
Online DVD rental company Quickflix Ltd has opened a new distribution centre in Hobart to serve its rapidly growing Tasmanian membership base.
The new Hobart distribution hub adds to a national network that already includes operations in Sydney, Melbourne, Brisbane, Adelaide and Perth.
The Hobart hub will provide next-day delivery of Quickflix DVDs by Australia Post to most households in Tasmania.
Quickflix founder and executive director Stephen Langsford said the new centre also positioned the company well in the Tasmanian market for digital delivery.
Tasmania will lead the nation in the rollout of high-speed broadband under the National Broadband Network (NBN) initiative.
“We see this as an important market for us in which to build a significant online member base and be in the prime position to introduce a complementary movie-streaming service as demand increases, Mr Langsford said in a statement on Wednesday.
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.
New Appointments to the Board of Quickflix
Quickflix (ASX: QFX) Australia’s leading online DVD rental and movie subscription service today announced the appointment of two new Non Executive Directors to its board.
Melbourne-based Simon Baker, former managing director and CEO of the REA Group Limited (realestate.com.au) and Sydney-based Ross McCreath, senior media executive and a veteran of PayTV in Australia will join the Quickflix board following the Company’s annual general meeting on 12 November, 2009. Simon Baker recently became a significant shareholder of Quickflix with a 6.4% holding.
Simon Baker and Ross McCreath will join Stephen Langsford, Founder and Executive Director and Simon Hodge, Managing Director on the board and replace Non Executive Directors Kevin Campbell AM and Jon Schahinger who have announced that they will be stepping down. Kevin Campbell will step down after the next AGM at which time Stephen Langsford will become Executive Chairman. Jon Schahinger will step down in February 2010.
The Company’s Chairman, Kevin Campbell, said “We concluded that the board changes would provide additional vigour to drive the next stage of Quickflix’s growth plans and are pleased to have identified two highly qualified individuals.”
Also commenting on the appointments today, Stephen Langsford said “We are delighted to be appointing two such high calibre individuals to the board of directors. They bring with them significant online, media and business expertise and we look forward to their contribution as we extend our lead and develop Quickflix into a major internet, media and entertainment brand. The depth of experience that Simon and Ross bring to Quickflix will be invaluable in assisting us to meet our aggressive growth targets.”
“We also take this opportunity of thanking Kevin Campbell and Jon Schahinger for their outstanding contribution to Quickflix.. Kevin and Jon joined our board at the time of our listing in 2005 when we were only 2,000 subscribers and have provided invaluable support as the Company has found its feet and moved on from an early-stage start-up.”
A brief background on the new board appointees follows:
Simon Baker (42, BSc, MBA)
Simon has extensive experience in the online industry having owned and or operated a number of online classified businesses, most notably the REA Group (realestate.com.au). He is currently the CEO of Classified Ad Ventures Pty Ltd – a business that invests in online classifieds companies, develops new online products, and provides consulting services to online classified players around the world.
During Simon’s 7.5 years as Managing Director and Chief Executive Officer of the listed REA Group the business increased revenues from $4 million to $156 million, turned around a loss of $6m to an EBITDA profit of $37m, and increased its market capitalisation from $8 million to $600 million. Prior to becoming CEO, Simon was Chief Business Development Officer at News Interactive, was Chief Technology Officer in a US start up and spent five years with McKinsey and Company providing strategic and organisational advice to Senior Management at major Australian and international companies.
Ross McCreath (46, BEc, CPA)
Ross has a long career in media with over 20 years experience in managing entrepreneurial media organisations through periods of strong growth and sharp downturns, most recently as CFO of regional Television Broadcaster WIN Corporation. Ross has also served as CFO and Company Secretary of Australia’s largest listed TV production and distribution company, Southern Star Group Limited and prior to that was one of the founding executives of start-up pay TV operator Australis Media Limited where he served in a wide range of both financial, strategy and programming roles over of 11 years with Australis and its founding company.
