Netflix Oz rubs off on Quickflix

The Australian launches of Netflix, Stan and Presto TV have boosted awareness of streaming services in the market, helping existing streamer Quickflix.

Quickflix, founded in 2003, saw a 6% increase in paying customers to 123,553 in the quarter ending March 31.

The subscription VoD and online DVD rental service now streams more than one million hours per month, up 34% on the previous quarter and almost double that of a year ago.

“The combined promotional efforts of all competitors in the market and heightened media interest is contributing to increased consumer awareness and demand,” the company said today.

Smart TVs and games consoles are the most popular streaming devices, accounting for more than 50% of streaming volumes.

However, Quickflix’s churn rate rose to 8.5%, up from the 12-month average of 6.6%, as some customers defected to the new competitors.

The quarter saw Quickflix incur a net cash outflow of A$850,000 (US$664,000) on steady revenues of A$5m.

The company said discussions continue with unidentified industry parties and investors concerning growth opportunities with Quickflix.