Please wait...
Please wait...

Sky, Liberty pour $90m into iflix

US cable giant Liberty Global and European pay TV operator Sky have invested in Malaysia-based SVoD service iflix to help it expand into other markets.

The Asian rival to Netflix has closed its latest round of funding after attracting a further US$90m of capital from companies including Liberty Global, Sky, mobile and data services company Zain and an unnamed investment management firm.

Iflix launched in Malaysia and the Philippines in May 2015 with more than 11,000 hours of Hollywood and Asian content in its catalogue. It is now available in nine markets across South-East Asia and is looking to expand its footprint in Asia and roll out in other emerging markets around the world.

It recently launched its service in Pakistan and Vietnam and has a joint venture, iflix Arabia, with mobile and data services operator Zain to push into the MENA region.

The service, controlled by Malaysia-based Catcha Group and Evolution Media Capital, has previously sealed deals with more than 30 content providers in the US, Europe and South-East Asia, including Warner Bros, 20th Century Fox and BBC Worldwide.

The most recent investment comes after Sky pumped US$45m into the business last year.

“The new funds will enable us to seize this immense opportunity and continue to empower local consumers and provide them with the best content and services available, and the freedom to enjoy that offering whenever they want, wherever they are in the world,” said iflix co-founder and group CEO Mark Britt.

“There are currently more than 2.5 billion people with smartphones in emerging markets who have a passion for cultural influences from around the globe and want access to the best entertainment content available easily and reliably. It is our aim to make iflix available to each and every one of them.”

Sky group chief operating officer Andrew Griffith said: “In the last year since Sky joined as a shareholder, we have seen the company surpass its milestones, including consolidating its leading market position in South-East Asia and expanding its footprint into new regions. We are pleased to continue our support as iflix moves on to the next stage of growth, making its world-class service available to millions of consumers in MENA and Africa.”

Liberty Global chief programming officer Bruce Mann added: “Investing in an innovative emerging business like iflix enables us to gain an even greater insight into subscription video-on-demand services as we continue to develop our own evolving video entertainment propositions for millions of our customers throughout Europe, Latin America and the Caribbean.”

RELATED ARTICLES

Please wait...