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.
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.
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Quickflix Releases 2009 Annual Results
Quickflix has issued a press release showing its 2009 annual results today. Highlights include:
· Subscribers up 24 percent to 32,935
· Revenue up 12 percent to $6.4 million
· Operating costs down 17 percent to $8.5 million
· Net operating loss down 54 percent to $2.1 million
· Member churn down to average 4.2 percent per month
· Subscriber acquisition costs reduced by 40 per cent
The 2009 annual results show a strong improvement on the previous year with the net operating loss down 54 per cent to $2.1 million compared to $4.5 million in 2008. This turnaround performance was achieved in challenging economic conditions and came through solid growth in subscriber numbers, revenue and a reduction in costs. Much of the growth came in the last six months of the financial year and is continuing in the current year.
Quickflix ended the 2009 financial year in a sound financial position having earlier converted to equity $1 million of debt held by regional media group WIN Corporation, and initiating a $2 million capital raising which was successfully completed in August 2009.
Quickflix subscribers as at 30 June
In the short term Quickflix will continue to invest to rapidly grow subscriber numbers and revenue to a level from which future growth can be funded from the Company’s operating cash flows. Product development will focus on extending its range of titles available for download to own, and download to rent.
Quickflix is now Australia’s leading online movie subscription brand and is building market share in a multi-billion dollar home entertainment industry. Trends from the US and UK show that Quickflix is positioned to benefit from the growing shift of consumers to seeking entertainment content online.
Classified Ad Ventures, through its investment arm, CAV Investment Holdings, has taken a 4.8% stake in the ASX listed online DVD rental site, QuickFlix. This investment was part of the $750,000 capital raising just completed by the company and was announced in June.
Quickflix Successfully Completes Capital Raising
Quickflix Limited (ASX: QFX), Australia’s leading online movie subscription company, announced today that it had successfully completed a $2M capital raising through a combination of a private placement (completed in June) and a subsequent rights issue both priced at 5 cents. The rights issue received strong support with 64 per cent of entitlements taken up and the balance raised through underwriting by existing shareholders.
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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”.
Classified Ad Ventures Takes 4.8% Stake in Quick Flix
Classified Ad Ventures, through its investment arm, CAV Investment Holdings, has taken a 4.8% stake in the ASX listed online DVD rental site, QuickFlix. This investment was part of the $750,000 capital raising just completed by the company. Here is the full ASX announcement.
Quickflix has successfully completed a private placement to raise $750,000 at an issue price of 5c per share. The placement was strongly supported, attracting a number of high quality, new shareholders to the Quickflix register. New shareholders include CAV Investment Holdings, the investment fund of Simon Baker, who from 2001 to 2008 was CEO and Managing Director of the ASX-listed REA Group Ltd (ASX: REA) which operates the successful Australian and international online real estate businesses including www.realestate.com.au.
This new funding will enable Quickflix to increase its marketing activity in attracting new subscribers and take advantage of its existing strong growth momentum. The board is delighted to welcome our new shareholders to the register.
