Sky invests US$45MN in iflix


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Rebecca Hawkes

| 10 March 2016




European pay-TV giant Sky is investing US$45 million in the nascent Southeast Asian streaming service iflix as part of a larger collaboration for emerging markets.


iflix, which launched its subscription video-on-demand (SVOD) service in May 2015, is backed by Malaysia’s Catcha Group and Evolution Media Capital. The cash deal sees Sky acquire $2.5 million worth of shares from existing investors.

“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,” said Andrew Griffith, group chief financial officer, Sky.

iflix now reaches one million subscribers in Malaysia, Thailand and the Philippines, and the company plans to offer its library Hollywood, Asian regional and local TV shows and movies to consumers in other ASEAN nations in coming months.

iflix co-founder and group CEO, Mark Britt, added: “We are thrilled to welcome Sky to the iflix family. As pioneers in the global broadcasting industry and true leaders in television and media, they share our passion for delivering market-leading content and services through innovation. Sky's investment will further support our commitment to providing our members with the best in entertainment.”

Disney, Paramount, Warner Bros, MGM, Fox Studios, BBC, STARZ and Primeworks are already providing a raft of content for the service, including The Big Bang Theory, Arrow, American Horror Story, Glee, How I Met Your Mother, Vampire Diaries and Sherlock, along with the latest seasons of Marvel's Agents of S.H.I.E.L.D., Scandal, Once Upon a Time and Conan.

Korean drama is represented with K-hits Boys Over Flowers, Secret Garden and My Sassy Girl, and children catered for with Adventure Time, Dora the Explorer, SpongeBob SquarePants and Ben 10.