Quickflix Records Significant Increase in New Subscribers
Quickflix is pleased to announce that total subscribers (paying and trialists) have now surpassed 66,000, representing a significant increase on the 55,367 reported as at 30 June 2010.
The addition of over 10,000 subscribers throughout July to date represents over 500 net new subscribers per day or growth of over 20 per cent on total subscribers at the end of June.
Furthermore the Company has achieved a new record for the number of subscribers added in a day of 2,649. This eclipses the previous record and makes July’s growth to date the strongest start to a quarter recorded by the Company.
The Company is pleased to inform that it is achieving the new additions at a low cost per subscriber acquisition.
The surge in new subscriber additions is a result of increasing awareness of the Quickflix brand, new promotional campaigns and growing consumer demand as the structural shift from physical video stores to online gathers pace.
Quickflix Passes 50,000 Subscriber Mark
Quickflix Limited (ASX: QFX), Australia’s leading online DVD rental and movie subscription company, announced its quarterly results today showing strong growth in paying subscribers and revenues as total subscribers surpassed the 50,000 milestone for the first time.
Highlights for the June quarter were:
- Total subscribers of 55,367 at 30 June 2010, up 13 percent (+68 percent YOY)
- Revenue receipts of $2.23 Million, up 18 percent, and operating payments of $2.43 Million
- Net operating and investing cash outflow of $0.77 Million for the quarter
- Net cash at bank at 30 June 2010 was $0.98 Million, including the proceeds from a $1.4 Million private placement completed in April
Increased movie watching at home over the winter season and the launch of new promotional campaigns are expected to contribute to further strong growth in Quickflix subscribers and revenue over the September quarter. The first few days of July have already delivered a record level of new subscriber sign ups as Quickflix gains traction amongst consumers.
The momentum behind Quickflix and the continuing success of its subscription-based business model lead by Netflix in the US and Lovefilm in UK & Europe underscore its positioning and market potential in Australia.
The Company today unveiled its vision to become the internet brand of choice for Australian consumers to discover, enjoy and share movie and TV shows when and how they want. As new set top box and IPTV players enter the market, Quickflix’s unique proposition of hybrid delivery across packaged media (DVD and Blu-ray) and future digital on-demand allows it to flexibly and profitably transition with consumers.
QuickFlix Looking for Business Development Manager
QuickFlix, the leader in online DVD rental, is looking for a business development manager to work in its consumer marketing team. This is a great opportunity to be part of the future and to work for a smart and innovative business. Here are the details:
http://www.seek.com.au/users/apply/index.ascx?Sequence=94&PageNumber=1&jobid=17344787
Quickflix Launches iPhone App for Movie Lovers on the Go
Quickflix Limited (ASX:QFX) Australia’s leading online DVD rental and movie subscription company, today announced the launch of its new iPhone app heralding a new era of convenience in selecting movie and TV shows from Australia’s largest online DVD & Blu-ray library.
The million Australians who are estimated to own an Apple iPhone can now download the Quickflix iPhone app for free from the Apple iTunes App Store. Consumers without an iPhone have not been overlooked. Visitors accessing Quickflix through a web enabled phone will automatically be directed to the new mobile version of its popular website for an optimal browsing experience.
Quickflix CTO & head of product development Tim Parsons, commenting on the launch said “We know from surveying our subscribers that 80 per cent of those who own an iPhone want to use it for searching and browsing the Quickflix movie database and selecting titles to add to their personalised viewing Queue. We’ve launched the new iPhone app to satisfy that demand and make the Quickflix service as convenient as possible.”
“The Quickflix website already supports close to 50,000 subscribers who add over 200,000 movies and TV shows to their playlist every month. Our new iPhone app and mobile site are part of our commitment to product innovation which includes mobile content platforms, integration with social networking sites such as facebook, and future video-on-demand services through IP devices.”
Founder and Executive Chairman of Quickflix, Stephen Langsford said the new iPhone app makes Quickflix’s massive range of movies and TV shows even more accessible for movie lovers.
“Next time you’re reading a movie review on the bus on the way to work or watching a preview of an upcoming movie at the cinema you can now instantly Queue that up through your iPhone or mobile web browser and Quickflix will deliver it to you.”
Quickflix Receives Good Writeup in The Australian
QuickFlix had a good write up in The Australian on Tuesday 13th. Here is the article.
CRITERION’S long-held patience in this DVD mail-rental outfit is yet to be rewarded, but Quickflix has grown its customer base to useful levels, which bodes well for an eventual movie download service.
Quickflix yesterday reported customer numbers of 49,000, up 20 per cent for the quarter. As CEO Stephen Langsford points out, this compares with the flat performance of traditional DVD stores, which are slowly dying (in the US, Blockbuster is close to bankruptcy). Quickflix’s customers are those who are too fagged to walk down to the video shop or who appreciate the 40,000 titles on offer. But what of the new generation who wants to watch Avatar now, not in two days when the postie arrives?
They’ll have to wait for Kevin’s broadband, but even then Quickflix will be cautious about rolling out a product. Langsford says America has had high-speed internet for ages but digital downloads still account for only about 3 per cent or so of usage.
Netflix, Quickflix’s Us equivalent, accounts for about 12 per cent of the market. Locally, Quickflix sees an “addressable market” of one million couch potatoes. But a realistic base of 100,000 punters would generate sustainable revenue to fund further growth. Not that Quickflix has the field to itself: it competes with Telstra’s Big Pond Movies, with a similar subscriber base.
Quickflix’s potential will also be constrained by its fragile finances.
Happily, Quickflix has just raised $1.4m at 6c apiece in a private placement, with the funds earmarked for “working capital and growth initiatives”.
Quickflix reported a $1.34 million first-half loss on revenue of $3.8m, up 5.8 per cent.
We last had Quickflix as a speculative buy at 2.9c last April and maintain the call.
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.
