Resale deal with Presto to boost Quickflix [Thu 14/05/2015 11:12...

Resale deal with Presto to boost Quickflix
[Thu 14/05/2015 11:12 AM]

By Don Groves
Quickflix’s new agreement to resell Presto Movies and Presto TV could be a game-changer for the company which launched in 2003 and has yet to make a profit.
Subject to due diligence and new funding arrangements, Quickflix will replace its $10 a month streaming service with Presto’s content, significantly strengthening its film and TV offerings.
It’s also a win for Presto which will get access to Quickflix’s far wider distribution network which includes smart TVs, X Box, Sony PlayStation and other game consoles.
The deal will “bolster our content proposition and improve our overall economics,” Quickflix founder/executive chairman Stephen Langsford told IF.
One advantage is that Quickflix will no longer have to pay significant minimum guarantees that are standard for SVOD deals.

http://if.com.au/2015/05/14/article/Resale-deal-with-Presto-to-boost-Quickflix/GRPPMHHLUX.html

Langsford said the deal will entail a major upgrade to Quickflix’s user interface to integrate Presto’s content and said the funding arrangements for the upgrade are confidential.  Presto is not taking an equity stake in Quickflix.