Quickflix shares resumed trading on Thursday morning after a two-day halt as the company announced it has raised $775,000 from new investors.
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.
Australian streaming company, Quickflix, welcomed the news today that Foxtel has finally launched Presto, confident that it remains a better quality and better value proposition for movie and TV lovers than the new arrival.
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.
Presto TV has commissioned a Home and Away special event exclusively for the on-demand streaming service.
Streaming service Stan has scored a coup in the battle with Presto Movies/Presto TV and the incoming Netflix by signing a major content deal with Roadshow Entertainment.
Far from hurting the incumbent streaming platforms, Netflix's Australian launch has spurred awareness and demand for the SVOD category, benefiting Stan and Presto.
Telstra today announced it is partnering with Roku, Inc., a leading streaming platform, to launch Telstra TV, a new streaming service designed specifically for Australian consumers.