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Consumers quick to flick local streaming service

Competition in the media streaming market has seen the paying customer base of local service Quickflix decline by 13 per cent.

The Australian and New Zealand streaming service experienced a “sharp decline” in customers following the launch of US-based online television giant Netflix.

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Netflix launched to much hype in Australia in March, causing a mass exodus of Quickflix customers in April and May.

Of those leaving the service, an estimated 95 per cent were signing up to their US competitor.

“The impact of Netflix’s arrival was largely felt at the beginning of the quarter, underscoring the effect of the pent-up demand at the time of launch,” Quickflix’s latest quarterly update states.

“The downward momentum in the paying subscriber base and subscription streaming volumes abated towards the end of the quarter when Quickflix achieved traction in marketing and new customer additions increased.”

The total number of customers declined by 14 per cent to about 121,000, while operating and investing expenditure decreased by eight per cent to $5.3 million.

It is expected to take some time before the movement of customers will settle down.

To combat the market changes, Quickflix plans to “integrate and resell” third-party subscription video-on-demand channels.

There will be an update later this year that will include new features, that are hoped may bring customers back to the service.

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