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Netflix competitor Stan has acquired 350,000 subscribers since February

Kevin Spacey as Frank Underwood in House of Cards. Supplied

Stan, the $100 million Fairfax and Nine streaming media joint venture competing against Netflix, has had more than 800,000 users of the service since launch in February.

Contained within Nine’s annual results released today is an indication on the strength of the Stan business.

Nine says Stan is more than halfway to its target of 300,000 to 400,000 active subscribers by the end of December.

And it now has more than 300,000 gross subscriber households with more than 800,000 users of the service.

Stan later said it now had “in excess” of 350,000 subscribers.

This is along the lines of progress reported by Fairfax in its results.

A recent note by Citi media analyst Justin Diddams estimates Netflix’s penetration is already five times higher than Stan.

But Stan has been fighting back, announcing content deals with exclusive shows fast-tracked to the platform.

However, Quickflix, another Netflix competitor, says it’s been losing 5000 subscribers a month since the launch of Netflix in March.

And another locally-owned video streaming business EzyFlix has closed down.

(Disclosure: Allure Media, the publisher of Business Insider, is 100% owned by Fairfax Media)

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