Quickflix seeks to challenge Foxtel’s Presto by undercutting price with $9.99 offering
Quickflix is seeking to challenge Foxtel’s new online movie portal Presto by introducing a streaming-only service priced at $9.99, half the cost of its rival as it looks to steer away from finncial problems which have plagued the company for the last two years.
Foxtel launched its streaming service Presto last month at a price point of $19.95, with extra charges to be applied for premium movies.
“We think $9.95 is a great price that will hopefully make it irresistible for many,” Stephen Langsford, founder and CEO of Quickflix, which started as a mail DVD service, told Mumbrella. “At that price it’s half the price of Presto and half the price of a movie ticket.
“We are seeing growing demand for our streaming service. In the last three quarters we have the number of hours being streamed growing by 20 per cent per quarter. Having got our service across all the various devices, we think it is time to hit the button and that is clearly demand for our streaming only service.
Quickflix only has around 450 movies available for streaming (from their website), mostly old (old, old) releases. Compare this with more than 6700 on USA Netflix (courtesy of Instantwatcher.com). So the price is right, but they really have to work on their catalogue.
It’s 0.8c not 0.08c
Hi Credible,
Thanks for flagging we had the share price wrong. In fact it is 0.008c, not 0.08c as previously stated.
Cheers,
Alex – editor, Mubrella
Yep. Price is MUCH better. Now all they need to sort is the content.
no alex….credible is right… the share price is 0.8c.
I think you mean it’s $0.008 which is very different to 0.008c!
I agree with everyone about the content. However, at this stage it’s not the fault of Quickflix that it basically had to compete with the monopoly that is Foxtel.
This is why Netflix isn’t in Australia yet, Foxtel has all the licenses to all the good shows. I hope Quickflix does improve their catalogue, I’d gladly use their service more.
Jump on board. 15% increase in share price in a month!
Quickflix are bleeding money. Some film distributors have stopped supplying their films to them due to extremely low sales. which runs into a couple of hundred dollars a month. This is why they only have 450 films.
Dean, ever thought what QF’s prices would be if they had the smarts to ensure access to the more recent and more sought after content?
I’ll give you a tip – it wouldn’t be $9.99! Given the size of the comparative libraries it would be liable to exceed its competitors by some margin.