Quickflix reports record subscriber growth

Stephen Withers
Wednesday, 25 July 2007 10:10

IT Industry - Listed Tech

Web-based DVD rental service Quickflix signed up a record 5342 subscribers in May, taking the count above 18,000 by the end of the 2007 financial year.

"A major contributor to continued strong subscriber growth was Quickflix's partnerships with organisations who successfully help increase the awareness of the company's brand," said CEO Stephen Langsford.

WIN owns more than 10 percent of the company, and has been promoting it on regional TV stations, and a recent deal with Woolworths' Big W is expected to bring in additionaal subscribers.

More that 85 percent of the 26,000 titles in Quickflix's catalogue have been chosen by subscribers during the last 30 days, said Langsford. That catalogue now includes 101 Blu-ray and 58 HD DVD titles.

The company reported a net cash outflow of $505,000 for the quarter, bringing the annual net outflow to $1.9 million.