ASX-listed – but currently suspended – Australian subscription video-on-demand company Quickflix is continuing to shed customers and money, as streaming competitors including Netflix, Stan and Presto continue to make gains.
Quickflix’s second quarter results for FY16 show a drop in the customer base of 26 percent – down from 136,670 a year ago to just 101,195. Current paying customer numbers fell from 117,106 to 91,817.
Total receipts for the quarter amounted to $3.9 million, including an R&D tax rebate of $600,000.
Quickflix said it is focused on raising new capital and is looking for “corporate opportunities”, including a potential transaction with complementary content, digital consumer, e-commerce, or technology services businesses which can leverage Quickflix’s customer and revenue base and technology platform.
