Quickflix shares have jumped after it announced it had kicked off formal negotiations with potential strategic investors interested in helping the Perth-based entertainment company expand its presence in Australia and New Zealand.
The company’s shares were up 30.2 per cent on the ASX today, finishing trade at 5.6 cents.
Quickflix said a strategic partnership, alliance or merger would enable it to achieve its full potential by accelerating subscriber growth through increased marketing, access to content and additional capital.
Executive chairman Stephen Langsford said there was significant opportunity in the streaming video market, with around 6 million Australian homes not subscribed to any pay television services.
“Quickflix believes that its business model of combining subscription online DVD rental by mail and on-demand streaming accessible over a wide range of connected devices, including smart TVs, games consoles and mobile platforms is the right model for the market.”
