Quickflix And Presto Terminate Deal, Quickflix Signs With Chinese Company

Man sitting on a sofa watching tv with hands folded behind his head
B&T Magazine
By B&T Magazine



Video streaming on demand (SVOD) company Quickflix has terminated its agreement to be a reseller of content for another SVOD service, Presto.

The company made the announcement to the ASX yesterday, saying the agreement had not been met and was therefore terminated.

“Quickflix is pursuing other opportunities in relation to content for its SVOD service, including integrating alternative third party SVOD channels into its platform,” the statement to the ASX read.

A further announcement to the ASX this morning states Quickflix has entered into a “non-binding” deal with Shanghai-based film and TV company – of which there is no reference to the name.

The statement says the deal will combine businesses to form a “global streaming platform for distribution of Chinese film and TV content into Chine and international markets”.

“The Shanghai-based company is profitable and generates free cash-flow,” said the ASX statement. “Consolidation with Quickflix would result in the combined entity having a significantly improved financial outlook and ability to access further capital for growth.”

Last week, Quickflix halted its trading, pending a deal with an international company.

And back in May, Quickflix announced it would become a reseller of content from Presto – Foxtel’s streaming service. B&T reported it meant Quickflix would provide Presto content on its offering, and able to market and sell the Presto bundle across its existing platforms.

At the time, Quickflix CEO Stephen Langford said: “We are very pleased to enter an agreement with Presto, backed by Australia’s largest entertainment company, and the number one free-to-air broadcaster.

“Streaming is taking off and this agreement will significantly bolster our content offering for existing and future Quickflix customers whilst improving our overall operating economics. ”




Please login with linkedin to comment

Advertising Standards Bureau AMAA James Zipeure

Latest News

Sydney Comedy Festival: Taking The City & Social Media By Storm
  • Media

Sydney Comedy Festival: Taking The City & Social Media By Storm

Sydney Comedy Festival 2024 is live and ready to rumble, showing the best of international and homegrown talent at a host of venues around town. As usual, it’s hot on the heels of its big sister, the giant that is the Melbourne International Comedy Festival, picking up some acts as they continue on their own […]

Global Marketers Descend For AANA’s RESET For Growth
  • Advertising

Global Marketers Descend For AANA’s RESET For Growth

The Australian Association of National Advertisers (AANA) has announced the final epic lineup of local and global marketing powerhouses for RESET for Growth 2024. Lead image: Josh Faulks, chief executive officer, AANA  Back in 2000, a woman with no business experience opened her first juice bar in Adelaide. The idea was brilliantly simple: make healthy […]