Quickflix seeks quick fix for Australasian growth

Quickflix has sought advice on how to attract new investors to help grow its presence across Australasia.

In a statement to the Australia stock exchange, the streaming and on-demand video supplier hopes to push subscriptions through wider marketing channels and broader access to content from more working capital.

Launched in 2004, Quickflix has amassed a collection of over 50,000 movie and TV series titles with a current subscriber base totalling over 100,000, with a desire to expand further to grow its presence across the region.

The Sydney-based company has begun advisory talks with both local and international investors, with the aim of developing strategic partnerships throughout ANZ.

"We have invested heavily in building the platforms for future growth of our video on demand platform, which includes both streaming and pay per view services," says Stephen Langsford, Quickflix founder and executive chairman.

"Additional investment in marketing and content will enable the business to rapidly expand."

"Quickflix believes that its business model of combining subscription online DVD rental by mail and on-demand streaming accessible over a wide range of connected devices including smart TVs, games consoles and mobile platforms is the right model for the market.”

After success in Australia, the company launched their streaming service in New Zealand on March 29 this year, nearly a year after announcing the dispatch of their 10 millionth DVD – Shrek Forever After.

The news meant Kiwis were finally able to stream movies and TV shows on their computers, TVs and other devices, despite an initial selection limit.

At the time of the move, Quickflix CEO Chris Taylor said Kiwis’ entertainment choices have been ‘far too limited for far too long.’

"In our view there is not enough competition in New Zealand,” Taylor says.

"Consumers deserve more choice of content, on demand, without the exorbitant price tag.”

Australasia is expecting an increase in online content after governments on both sides of the Tasman introduced a taxpayer-subsidy for major fibre network builds to push broadband usages and improve services on the web.

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