Online video rental grows
If we are to believe ASX listed online DVD rental crowd Quickflix , the bottom is
falling out of the bricks and mortar video rental business while online video
rentals is a booming business. However, Quickflix also claims that the video
downloads business is struggling.
Quickflix operates an Australia-wide online video rentals service, which enables
customers who pay a monthly sunscription fee by credit card to order rental
videos online and receive them in the mail.
According to Quickflix, a 97%
increase in growth to more than 18000 subscribers in the past 12 months
highlights fundamental changes occurring in the video rental market in Australia
at present with a shift away from high street video stores
Quickflix points to an IBIS World industry report, released in
January, which showed that by the end of the current financial year the number
of video stores in Australia is expected to fall for the sixth consecutive year
to 1389 from 3181 in 91-92 and almost 1.5% less than the previous year.
Read full news at IT Wire