Quickflix claims paid user growth but admits it is losing $850,000 a quarter
Streaming service Quickflix has reported an 11 per cent drop in its number of trial subscribers, but claims its paying customers have risen 6 per cent in the last quarter during which awareness of SVOD services rose dramatically.
Between January and March, when new services Stan and Netflix launched and Presto overhauled its offering, Quickflix claims its subscribers lifted by 6,400 to 123,553 compared to the last quarter of 2014, it told the Australian Securities Exchange this afternoon.
However the number of customers on free trials had dropped from 19,564 to 17,348 between December and March. The accounts also showed the company is losing around $850,000 a quarter, with just $1.26m in cash on hand.
Quickflix subscriber numbers
good grief…..just do the right thing, shut the doors and move on….
It will be pretty impressive if Quickflix is still around in 6 months time.
Need someone to buy them out as they have all the infrastructure set up.
They haven’t got much to negotiate with. The people they are talking to just have to wait and see them get more desperate, the price dropping each month.
I’ve just started a free trial and so far it’s been a terrible customer experience. The wrong URL to redeem was on the gift card prompting me to call (twice – as the first time they gave me the wrong URL), and now I’ve been waiting almost 2 weeks for the discs to arrive but still no sign of them. All the good shows are only on DVD and not available for streaming. Why would anyone invest in this kind of business?
Hi Mumbrella team – any update on Netflix subscribers? Do they release that sort of info. Would be interested to hear. Cheers.
Hi Frankie,
We’ll let you know when we do – they don’t seem to do market breakdowns, but when we have more info we’ll make sure it’s posted.
Cheers,
Alex – Editor, Mumbrella