Sky PLC, Surya Citra Invest in iflix Internet TV
Southeast Asian Internet TV service iflix has announced the completion of a large new round of funding, led by UK-based Sky PLC. Indonesian company Emtek Group, through its subsidiary Surya Citra Media, one of Indonesia’s leading television and content companies, also participated in the round.
The funds will help accelerate the company’s growth in Malaysia, Thailand and the Philippines, and will be used for expansion into new markets on the back of strong demand for the service.
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.”
Britt 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, 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.”
Now available in Malaysia, Thailand and the Philippines, iflix will continue to roll out its service to additional key Southeast Asian markets in the coming months.
With over 1 million members in the region, iflix offers consumers a library of top Hollywood, Asian regional, and local TV shows and movies. Each subscription allows users to access the service on up to five devices, including phones, laptops, tablets, and television sets.
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