Quickflix puts business and 900,000 strong digital marketing database up for sale
Streaming service Quickflix is accepting expressions of interest for sale of the Perth
-based business, which went into administration last week.
An advertisement in today’s Australian Financial Review from administrators Ferrier Hodgson says the company is seeking expressions of interest, with any sale set to include the 80,000 strong subscriber database and a 900,000 digital marketing database belonging to the company.
Quickflix last week called in the administrators blaming the amount of money rival service Stan had demanded to give up a set of shares it owns in the business, which Quickflix said was putting off investors.
Related: Quickflix’s cautionary tale: how to lose $40m in just five years
According to Quickflix, Stan wanted $4m for the parcel of preference shares it acquired from HBO 18 months ago, or a payment of $1.25m and the transfer of all of Quickflix’s streaming customers.
Quickflix, which began life as a postal DVD rental business, also owns a catalogue of 40,000 DVDs and Blu-ray discs which it houses at a distribution centre in Western Sydney.
In its last financial statements it had around $3m in revenue for the quarter and had cash-in-hand of $659,000.
According to the ad, statements of interest must be lodged with the administrators by Friday, May 6.
Alex Hayes
How many of those 900,000 have consented to their data being sold and used by others?
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I wouldn’t be surprised if WIN now takes an interest in quickflix after the recent court loss to NINE
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1) If they have a database of 900,000 – why didn’t they use it ?
2) Expressions of interest for the business by 6th May ? That is the date of 1st creditors meeting to ratify the appointment of Ferrier Hodgson . What if that doesn’t happen ?
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As I predicted above , the Ferrier Hodgson have been replaced by Deloitte Touche . Where does that leave the sale now ?
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