iflix’s has found itself two new major investors in European entertainment company Sky Plc and Indonesia-based Surya Citra Media from the Emtek Group. The new capital will be used to drive growth in the Philippines, Malaysia, and Thailand, as well as to expand into new markets.
iflix co-founder and group CEO Mark Britt said, “We are thrilled to welcome Sky to the iflix family. As pioneers of the global broadcasting industry and true leaders in television and media, they share our passion for delivering market-leading content and services through innovation. We are also pleased that Sky will further their commitment by appointing a director to the board of iflix.”
He continued, “In response to both the rapid growth and customer adoption in our existing markets and strong demand from new markets, we have decided to accelerate our expansion plans for the business sooner than expected. The investment will support our continuing commitment to providing our members with the best in entertainment.”
Andrew Griffith, group chief financial officer of Sky commented, “iflix has quickly established itself as Southeast Asia’s most exciting and fastest-growing streaming TV service. There are lots of opportunities for Sky and iflix to work together and share expertise as both companies continue to expand. We are really looking forward to supporting Mark and his team deliver their ambitious plans.”
Currently available in the three locales above, iflix seeks to further penetrate the rest of the SEA market over the next few months. It currently boasts more than 1 million subscribers in the region, as well as the largest library of Hollywood, Asian, and local TV shows and movies. For a fee of PHP 129 per month, users can access the service’s entire catalog on up to five devices both online through streaming and offline through digital downloads.