Australian DVD and online movie rental business Quickflix received a $10 million cash injection today as American cable network HBO secured a 15.7% interest in the business and a seat at the boardroom table.
While they’ve done plenty of deals with other providers – including a deal with Quickflix itself only a few weeks ago which will bring popular series such as True Blood, Game of Thrones and Boardwalk Empire to the Australian service – it is not common for HBO to take a financial stake. The benefits to Quickflix are obvious. For HBO it positions their movies and series well in the Australian market ahead of speculation that other international players may be moving in soon.
Quickflix wins $10 million investment from American television network HBO Patrick Stafford on SmartCompany, 6 February.