news Online DVD rental and Internet video company Quickflix has that it experienced a surge in its number of subscribers in the last quarter of 2011. The total number of subscribers (including those trialling the service) as of 31 December 2011 had reached 110,697 which implies an increase of 21,303 subscribers, or 24 per cent, during the last quarter.
The number of paying subscribers, Quickflix said in a statement this week, also increased significantly to 94,097 as of 31 December, which translated to net additions of 13,464 and a growth of 17 per cent for the December quarter. The company saw paying subscribers increase over the whole of 2011 by 81 per cent.
Quickflix launched its new movie streaming service WatchNow on 16 November 2011 with more than 10 per cent of the subscribers opting for initial subscriptions to this service as part of their package. WatchNow for Mac and PC users has been integrated into the Quickflix website; subscribers can opt for instant streaming or DVD by mail subscriptions or both.
The chief executive officer of Quickflix, Chris Taylor had stated that this new service would make movie watching affordable for most Australians. Quickflix founder and executive chairman, Stephen Langsford had stated his satisfaction with the momentum in the business and emphasised Quickflix’s unique position in the market with more consumers choosing to go online for their entertainment.
Also in November 2011, Sony Computer Entertainment Australia had announced the expansion of its on-demand services in Australia with the launch of the Quickflix subscription movie streaming service for PlayStation 3 (PS3). Taylor had called the launch a significant milestone in the distribution of Quickflix’s digital streaming product. With thousands of Quickflix subscribers already using the unlimited movie proposition, Taylor had expected the new launch offer to PS3 owners to attract more subscribers for the Quickflix service over the festive season.
In July 2011, Quickflix had announced the raising of over $4.6 million in funding through private investors with plans for the company’s growing expansion plans for online operations. The company had privately sold 55 million ordinary shares at a price of $0.085 per share. The company statement announcing the funding had stressed that the new funds put the company in a strong financial position by supplementing existing cash reserves. “Contributions from a growing subscriber base will be used to fund sustained growth and the roll-out of Quickflix’s digital launch,” the statement said.
Prior to this the company had announced a new deal with Sony for the launch of their streaming service across a range of Sony internet-enabled devices, such as Sony Bravia internet-enabled televisions, SVIB-capable Blu-Ray players and home theatre systems and the VAIO computer range. Quickflix had also acquired equipment and assets from rival Telstra in July, which had announced the closing down of its BigPond DVD rental service.
Image credit: Quickflix