Quickflix, an Australian online DVD rental and movie subscription business, has announced a surge in subscribers and revenues for 2010, with the company hitting almost 80,000 subscribers (both trial and paid) and a record $10 million in revenue for the 2010 calender year.
Quickflix operates on a subscription based mode, which is great for the company’s cash flow, subscribers pay from $9.99 through $36.99 per month depending on the DVD movie rental plan they subscribe to.
Quickflix’s Executive Chairman Stephen Langsford was buoyed by the results after a slow 2008/9 due to the impact of the GFC on discretionary income.
“These results are extremely pleasing. We ended the calendar year in a solid position, bolstered by solid subscriber growth.” he said.
“We’re already seeing healthy subscriber acquisition continuing into January, with paying subscribers exceeding 53,000 and total subscribers (including trialists) surpassing 80,000.”
“The strong uplift in new subscribers joining Quickflix is expected to result in further significant revenue growth in the March 2011 quarter and beyond.”