Has Quickflix’s growth stalled?
Quickflix’s recent update to the ASX shows their first ever decline in membership. From their July 11 announcement:
2 months ago Quickflix announced they were going lean & mean. Yet without their marketing spend, you can see the impact. There has been 4 consecutive months of decline in their trialists. But more to the point, their paying membership base has seen their first-ever drop:
| Month | New Members |
|---|---|
| March | +1964 |
| April | +413 |
| May | +151 |
| June | -238 |
It’s pretty bold putting out monthly membership numbers .. great while the numbers are good, but not so good when they drop. Perhaps they’ve learnt their lesson as they’ve now reverted to quarterly reports. It’s tough being a public company .. there’s no hiding performance.
They’ve re-skinned their site, and with new marketing efforts no doubt things will pick up. Good luck guys!