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Quickflix brought back from dead by US media company

The Australia streamer was thought to have fallen, but US company Karma Media has breathed AU$1.3 million of life back into Quickflix.

Quickflix

Quickflix in April became the first casualty in the Australian streaming war, but a US company is resurrecting its corpse.

The Australian streamer has been acquired by Karma Media Holdings for AU$1.3 million, meaning Quickflix will live to stream another day.

The company last made news in April, when it went into voluntary administration. At the time, Quickflix had over 130,000 paid subscribers. The Karma deal was officially proposed on September 22 and accepted today by Quickflix's administrator, Deloitte.

The news comes on the same day that Presto, one of Quickflix's local competitors, announced it would be shutting down. The service, backed by Foxtel and Seven West Media, will stop streaming on January 31, 2017.

Australian streaming became far more competitive with the March 2015 entry of global behemoth Netflix. Since then, Ezyflix collapsed and Stan has differentiated itself as more of a local content streamer. Quickflix, until today, was thought to be a ghost but could now have a second chance.

How the site will capitalise on that is not known. Before its near-death experience in April, Quickflix had restructured, cut costs, and tried to barter deals with Presto and a Chinese media company.