Quickflix, the ASX-listed media streaming company, says increased competition in Australia will be good for the growing multi-billion dollar industry.
In its annual report released today, Quickflix notes the intense activity in the market with Foxtel launching Presto and Nine entertainment and Fairfax Media starting a $100 million joint venture to launch a service next year.
And then there is the constantly rumoured move by Netflix into Australia proper, rather than via geo-blocking removal services to the US.
Quickflix, which started as a DVD rental business, has published an open letter to Netflix, challenging it to open operations in Australia rather than accepting Australian subscibers through what it calls the back door.
“Whilst a challenge to Quickflix, the new competition will also help build consumer awareness of streaming generally and grow the market which will also benefit the company,” says Stephen Langsford, Chairman and CEO of Quicklfix.
“In this environment Quickflix will continue to innovate, enhance its competitive offering and seek new partnerships to reach larger audiences.”
The annual report shows total customers increased by 27% to 135,690 at June 3-30 June 2014 and paying customers increasing by 21% to 22,862, as this chart shows: