Streaming service to renegotiate studio deals
Quickflix plans to renegotiate content deals with major studios and take on Foxtel and free-to-air broadcasters.
Quickflix wants to stream new US and UK shows within hours of their overseas broadcast. That’s a strategy Foxtel has recently adopted on its premium dramas. But Foxtel has also stitched up HBO exclusivity, despite it being an investor in Quickflix.
CEO Stephen Langsford told The Australian Financial Review that the company intended to invest heavily in improving its streaming service in order to convince the majority of its customer base to switch to the lower-cost platform.
“It feels to me like streaming is only just arriving in reality,” he said. “In the US, everyone knows what streaming is, grannies know what streaming is.”
Despite having 120,000 customers and a 32 per cent growth in revenues for the first half, Quickflix has struggled to become profitable. It reported a $3.4 million loss for the half.
In the US Kevin Spacey appears in House of Cards, made specifically for Netflix. The platform now accounts for up to a third of all internet traffic in the USA.
Langford said that the company was yet to decide how it would price new-release television shows, but hinted that it could use a “season pass” model, allowing them to pay for an entire season.