(Aug 1, 2013) American audiences have been quick to adopt online television and movie streaming, while Australian audiences seem to be holding out for something better to come along.
One look at the success of the NASDAQ-listed video-streaming website, Netflix, and it begs the question: why is Netflix doing so well, while the Australian equivalent is barely able keep its head above water?
Shares in Netflix have increased 65 per cent since January on its way to becoming a $US14.7 billion ($15.9 billion) market-capitalised behemoth, with around 30 million US subscribers and a quarterly revenue above $US1 billion.
Meanwhile Quickflix, Australia’s answer to Netflix, has languished. Shares in Quickflix are barely trading above the 1¢ range, and the company was forced to raise capital following a painful restructure in November last year designed to cut costs.
Read more at BRW