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Quickflix boosts sub base 56% in March quarter

Quickflix boosts sub base 56% in March quarter

Online DVD rental company Quickflix (ASX:QFX) has announced that its subscriber base grew a record 56% year-on-year during the March quarter.

Quickflix ended the quarter with just over 49,000 subscribers, of which 37,400 are active, paying customers.

The company said it had generated revenue of $1.89 million.

And while its cash at bank at the end of the quarter was only $400,000, the company has since completed a $1.4 million placement to strengthen its cash position.

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