Sky Invests $45 Million in Southeast Asian Streaming Service iflix
The pan-European pay TV giant enters a strategic partnership with that company that launched its service in May and is currently available in Malaysia, Thailand and the Philippines.
Pan-European pay TV giant Sky on Wednesday unveiled a $45 million investment in and strategic partnership with iflix, a streaming TV service in Southeast Asia.
Launched in May, iflix is currently available in Malaysia, Thailand and the Philippines and says it has already signed up more than 1 million members. It plans to extend its service to new ASEAN markets in the coming months.
The service provides unlimited access to tens of thousands of hours of content from a library of Hollywood, Asian regional and local movies and TV shows. Users can access the service on various mobile devices, including tablets and smartphones.
"The parties will work together to identify areas of future collaboration across the high-growth emerging markets, in which iflix operates," Sky said in announcing the deal.
The deal is the latest investment from European pay TV giant Sky in technology or startup firms in the U.S. and beyond.
"iflix has quickly established itself as Southeast Asia’s most exciting and fastest-growing streaming TV service," said Sky CFO Andrew Griffith. "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."
Said iflix co-founder and group CEO Mark Britt: "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."