0/5

Trading halt, international deal pending on Quickflix.

Quickflix will remain in a trading halt until Wednesday, when it plans to announce a deal with a global company.

2015-08-03_1608

Streaming service Quickflix will remain in a trading halt until Wednesday, when it plans to announce a deal with a global company.

It suspended shares last Thursday ahead of the announcement.

The move follows the company’s stagnant subscriber base in the face of competition from players such as Netflix.

Quickflix recently raised $775,000 through the issue of new shares, and last week reported an operating loss of $1.096m this quarter.

In May Presto entered a deal to offer its streaming content on the Quickflix platform. Nine Entertainment Co also owns buy 8% of the company.

Observers are now speculating as to which international player could potentially acquire the company.

Source: News Corp, Mumbrella

5 Responses

  1. With Amazon buying Clarkson,Hammond and May they will need Australia.

    I would expect that Amazon/Netflix deep pockets will be bad news for Stan

  2. Just read in The Age (date and time stamped: August 4, 2015 – 9:22PM) that: “Struggling Australian Netflix rival Quickflix has lost a deal to provide its customers with the Foxtel and Seven joint venture Presto. The online video streaming company said the conditions of its agreement to resell Presto have not been met.”

    So to quote Alice it gets curiouser and curiouser.

  3. “International party” wonder who that could be and how broad that term is.
    The thing is there are now 3 streaming services in Australia. If its not Netflix going after quickflix (assuming stan and presto owners excluded as “international players” as they are Australian only streaming services and without a deep knowledge of their ownership structures), then that could mean there will be a 4th player in streaming. Is their room for 4 streaming services in Australia?

    1. Amazon is not here yet and are reportedly interested in the Australian market generally. But I’d be surprised if they were going to get into provider acquisitions.

      1. I was thinking of amazon too but I was under the impression that they offered their streaming service as part of their prime membership which includes things like shipping benefits. Considering that they aren’t in the Australian market selling physical goods then they can’t really offer a prime membership here. That’s unless they are considering offering some kind streaming/dvd service in conjunction with their Australian kindle and app store. I guess we can only speculate.

Leave a Reply