- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
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.”
Sign up for THR news straight to your inbox every day