31 January 2012

Quickflix launches digital future and achieves strong growth in the December quarter. 17 per cent increase in paying subscribers; and 15 per cent increase in revenue during the quarter.

Quickflix's launch into digital streaming during the December quarter positions the Company for the expected explosion in demand for IPTV delivered movies and TV in Australia. The rapid rise of IPTV services in markets such as US and UK driven by new internet-connected TV and devices highlights the potential opportunity for Quickflix in this market. For example by 2015, 80 per cent of new TV's shipped globally are forecasted to be connected devices1, supporting services such as IPTV streaming of movies.
Quickflix streaming is the first subscription video on demand (SVOD) service of its kind in Australia. Already available on Sony Bravia connected TV's and Blu-ray players, Sony PlayStation®3, PCs and Apple Macs, Australians now have access to unlimited viewing of movies for one low monthly subscription. The initial take up has been very encouraging with over 10 per cent of subscribers opting for streaming since launch.
Quickflix is extending its service to new devices. The Company has recently announced that it will stream over Samsung's SmartTVs, Galaxy Tab and Android mobile phones and will announce additional device deals over the coming quarter as part of its strategy for being accessible on all popular devices.
Quickflix online DVD rental service now boasts the largest range of movie and TV series in Australia and the Company is quickly increasing its range of content available for streaming. Feature films have been licensed from major Hollywood studios including Warner Bros, Sony Pictures, and NBCUniversal and recently the Company announced that it will also be showcasing television series content from HBO, USA's largest premium television company. Further studio deals are expected to be announced in the coming quarter.
Quickflix's move into digital is coinciding with a rapidly growing subscriber base and online DVD rental business. During the quarter paying subscribers grew by 17 per cent to 94,097 whilst total subscribers (including trialists) grew by 24 per cent to 110,697. As at the time of this announcement total subscribers have surpassed 120,000.
Highlights for the December quarter were: