Asian SVoD start-up raises $30m

An Asian start-up subscription VoD (SVoD) platform and a major regional telco have joined forces to raise US$30m to fund further growth.

New iflix COO
Azran Osman-Rani

iflix and Philippine Long Distance Telephone Company (PLDT) say they will use the funds for the service’s roll-out across Southeast Asia and to acquire and produce content and for marketing.

Controlled by Malaysia-based Catcha Group and Evolution Media Capital, iflix will offer more than 10,000 hours of Hollywood and Asian films and TV shows when it launches in Malaysia and the Philippines in the second quarter.

iflix chairman Patrick Grove said: “We are excited to join forces with such an outstanding regional partner who shares our vision. The new funds will allow us to execute on our plan to deliver thousands of hours of entertainment for a low monthly price to the 600 million consumers in the region.”

PLDT chairman Manuel V Pangilinan said: “We are very bullish about the prospects of the iflix service, which has been designed to address the preferences and demands of the rapidly expanding Asian market.

“PLDT looks forward to working with iflix to grow its business and introduce new media services that will fuel further the demand for broadband and mobile access in the Philippines and across Southeast Asia.”

An iflix spokeswoman would not confirm PLDT will be its distribution partner in the Philippines, telling C21: “PLDT shares our vision and we expect a strong collaboration from the relationship; however, we have nothing specific to announce at this time.”

The fledgling streamer recently hired former airline chief and satellite broadcasting exec Azran Osman-Rani in the dual roles of chief operating officer of iflix Group and CEO of iflix Malaysia.

The platform plans to expand into Thailand, Indonesia and Vietnam later this year.