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.
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’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.
Nine Entertainment Co. has bought HBO’s 8% stake in Quickflix, becoming a significant investor in the DVD rental and subscription streaming service.
Film and TV streaming service Quickflix has raised $1.8 million from Australian and international institutional investors, placing 204.2 million shares at 0.9 cents per share
Young gun EzyFlix.tv has beaten all the established players to become the first Australian online movie streaming service to be compatible with Google Chromecast.
Quickflix, Australia's leading movie streaming company, today announced its ‘all you can view’ streamed entertainment service will be available on Xbox 360 and Xbox One consoles without a subscription to Xbox Live Gold.
Australians who are keen to see Netflix enter Australia with its cheap monthly fee for unlimited streaming of film and TV content probably should not hold their breath.