This past Wednesday I attended the Fast Growth Business Awards in London as part of the Lovefilm.com team, hoping to win the Retail/Leisure Business of the Year Award. Not only did we win this category, but we also made the top 4 for the overall award - something we had not expected. Below are the judge's comments:
LOVEFiLM disruptive nature and meteoric growth was simply too impressive for the judges to overlook. Since forming just six years ago in 2002 it’s captured the online DVD rental market with frightening pace, harnessing a market that brought in revenues of around £65m in 2007. Determined to stay ahead of the game, LOVEFiLM has also invested heavily in the emerging digital downloads market and struck deals with a number of major film studios, as well as white label agreements with the likes of Tesco. The pace of growth and drive for innovation has come at the expense of profit, but the judges felt the founders’ acceptance of risk in a bid to rapidly capture market share, was the essence of entrepreneurial zest that the awards aim to champion.
Not only did we do well at this awards ceremony, but on the same night we also came 7th in the Media Momentum awards which aim to identify the UK’s 50 fastest growing media businesses. This is the third year running that we have been recognized in the top 50.
All of these awards and recognitions for growth have would be happen without the hard work of everyone at Lovefilm, but also the hard work of every partner and affiliate. I would like to thank anyone reading this that has worked on our affiliate campaigns or any other promotions that we have run. Our affiliates have played a key part in our growth and it is great to be able to say that our affiliate marketing is a major success.