Quickflix has reached in principle agreements with Hollywood studios to convert SVOD licensing commitments of more than $5 million into debt, repayable over three years.
Presto is now available on internet connected televisions with Samsung the first manufacturer to confirm it will offer access to Presto’s subscription video on demand (SVOD) streaming services on its Smart TVs.
Presto TV is looking to hire up to 10 staff after the formalising of the joint venture between Foxtel and Seven West Media.
Presto today announced it has signed a subscription video on demand agreement with leading independent studio Entertainment One Television to offer access to complete seasons of the distributor’s premium programming.
Quickflix shares resumed trading on Thursday morning after a two-day halt as the company announced it has raised $775,000 from new investors.
Seven West Media has confirmed the formalisation of its joint venture with Foxtel in Presto TV Pty Limited.
Quickflix’s new agreement to resell Presto Movies and Presto TV could be a game-changer for the company which launched in 2003 and has yet to make a profit.
The goods and services tax to be imposed on Netflix will not slow its rapid growth given its market leadership, wealth of original content and unmetered deals with telcos.