APOS 2019: Investment injection for iflix from Korea’s JTBC
Details
Rebecca Hawkes
| 24 April 2019

South Korean media company JTBC has made a strategic investment in Southeast Asian online video service iflix, through its JTBC Content Hub arm.

Although financial details have not been divulged, the agreement will allow iflix to distribute JTBC’s content across Asia. South Korean dramas Welcome to Waikiki 2 and The Wind Blows, as well as variety shows such as Men on a Mission and Chef and My Fridge, will be streamed on iflix one month after their broadcast in Korea.

Iflix will also offer all viewers free access to JTBC’s content library, which exceeds 500 hours of drama. Titles include SKY Castle, Cleaning with Passion Now, ID: Gangnam Beauty and Ms. Hammuribi.

The alliance will also enable JTBC and iflix to explore opportunities for co-productions or other collaborations, the companies said.

Korean drama has become a key vertical for iflix with exponential growth, consistently ranking high for user acquisitions and engagement in line with the over the top (OTT) company’s target market, regardless of territory.

“JTBC is a powerhouse in Korea, producing exciting new content that reflects the dynamic Korean entertainment industry. We are thrilled to welcome JTBC to the iflix family as investors and collaborators in our commitment to providing our viewers the most compelling free content in the region,” said Mark Britt (pictured, right), co-founder and Group CEO, iflix (pictured, right, along with Patrick Grove, iflix co-founder and chairman, left and Yong Dal Kim, COO of JTBC, centre).

Kyungmoon Jung, CEO, JTBC Content Hub, said: “iflix is a leading OTT service provider in Southeast Asia, and is providing quality content all over the region through its innovative platform. We are very glad that we could partner with iflix through this transaction. With its fast-growing economy and attractive demographics, Southeast Asia has always been one of the most important regions to JTBC. Through iflix, we hope more and more SEA people enjoy JTBC’s exciting and trend-leading content”.

The deal follows the same model as an investment and distribution deal reached by iflix less than a month ago with Japanese entertainment conglomerate Yoshimoto Kogyo.