Quickflix reports 4 per cent growth in paying customers

Online and DVD rental company Quickflix (ASX: QFX) has reported a 4 per cent increase in paying customers to 102,248 following the launch of streaming services on consoles including the Sony PlayStation 4 during December 2013.

In an ASX announcement, the company said it had 18,552 trial members as of December.

In March 2013, Quickflix reported paying customer numbers of 113,036.

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Quickflix CEO Stephen Langsford said that streaming momentum continued to build in the December quarter with the number of hours streamed increasing by 23 per cent over the previous quarter.

“New platforms launched during this period including the PlayStation 4, LG smart TVs, TiVo and Amazon Kindle Fire added to the demand,” he said in a statement.

Revenue was $4.8 million, down 5 per cent on the previous quarter. Net operating and cash outflow for December was $0.93 million.

According to Langsford, “significant content licensing deals” are expected to be signed over the coming weeks which will support the company’s long term growth objectives.

Quickflix is also due to be launched on the Xbox One console later in 2014.

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