Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Quickflix delivers 10% customer growth in December quarter

16 January 2014

Quickflix delivers 10 per cent customer growth in December quarter.

Quickflix continued its growth trajectory in the December quarter, adding over 10,000 new customers and experiencing strong demand for its streaming service.

Total active customers increased by 10 per cent to 120,800 in the quarter including 18,552 trialists.

The addition of new customers was achieved through a number of promotional channels including the Company’s comprehensive network of consumer electronic device partners.

The number of paying customers grew by 4 per cent during the quarter to 102,248.

The number of paying customers at the date of this report has continued to increase as trialists convert and stay with the service.

Revenue in the December quarter was $4.8 million, 5 per cent lower than the previous quarter.

In the first weeks of the current quarter revenue is tracking higher on the larger base of paying customers.

Net operating and investing cash outflow for the quarter was $0.93 million.

Streaming momentum continued to build in the quarter with the numbers of hours streamed increasing by 23 per cent over the previous quarter.

The level of streaming was 40 per cent higher than the equivalent period in the prior year.

New platforms launched during the quarter including PlayStation 4, LG Smart TVs, TiVo and Amazon Kindle Fire added to the demand.

Key highlights in the December quarter were:

• Total active customers of 120,800, an increase of 10 per cent on previous quarter, including 18,552 trialists;
• Paying customers 102,248, 4 per cent up on previous quarter;
• Paying subscriber churn of 5.1 per cent, a 7 per cent improvement on last quarter;
• Revenue receipts of $4.8 million, down 5 per cent;
• R&D tax rebate of $0.9 million received;
• Net operating and investing cash outflow increased by $0.17 million to $0.93 million;
• Equity capital raising of $5.5 million including conversion of debt to equity; and
• Cash reserves at the end of December were $5.2 million.


Click for big version.

Outlook

The December quarter results highlight Quickflix’s return to growth and the building demand for streaming.

Having established a vast array of devices over which to stream including the major global TV brands as well as game consoles, mobiles and tablets, Quickflix is now readily accessible by most householders in Australia and New Zealand.

The launch of Quickflix on the new Xbox One game console anticipated in the coming quarter will be another major milestone.

Quickflix is expanding its range of latest release movies and TV series for streaming.

New significant content licensing deals are well advanced and are expected to be concluded over the coming weeks which will further support the Company’s long term growth objectives.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news