Quickflix ready to ride wave of online movies | The Australian - 0 views
-
Vernon Fowler on 27 Jun 11"WE don't want world domination," says Stephen Langsford, the executive chairman of online DVD rental company Quickflix. That's just as well, because Quickflix has yet to turn a profit in the seven years since Langsford launched the venture, and its $15 million market capitalisation places it in true minnow territory. But that's all about to change, according to the ever sanguine Langsford, a former internet entrepreneur who worked for one-time market darling Sausage Software in the late 1990s before the dotcom crash. Langsford is promising the market that this will be the year online distribution becomes a reality for Quickflix, which has weathered years of losses but invested precious capital into boosting its subscriber base to an impressive 80,000. He says the arrival of internet-enabled televisions in Australian stores later this year, coupled with the proliferation of popular devices such as the iPhone and the iPad, mean Quickflix is ideally positioned to lead the streaming revolution.