Quickflix FY loss widens to $10m

By AAP

Content-related costs were more than $1m higher at $9. 3m. Nine Entertainment Co. bought more than 91 million convertible preference shares in Quickflix from US cable giant HBO during the year, fuelling speculation of a potential takeover.

Movie and TV streaming service Quickflix has blown out its full year loss to more than $10 million after ramping up spending to attract new customers.

Along with StreamCo, Quickflix faces an increasingly competitive local market: Foxtel has launched its own service, called Presto, and Seven West Media is in talks to enter the sector.

Alan has been a trusted source of investment advice to Australians for many years, and in 2005 he founded Eureka Report - Australia’s #1 online investment report.

Along with Robert Gottliebsen and Stephen Bartholomeusz, Alan also founded Business Spectator, the popular business news and commentary website.

Read more here: Business Spectator

    

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