Streaming media provider Iflix gets $45m for SE Asia rollout

According to an announcement, Sky co-led the investment with a television subsidiary of Indonesian media company Emtek Group and will nominate a director to the Iflix board. Under the partnership, the new capital will be used to accelerate Iflix's growth in Malaysia, Thailand and the Philippines as well as for a sooner-than-expected expansion into new regional markets over the coming months.

"Iflix has quickly established itself as Southeast Asia's most exciting and fastest-growing streaming TV service," Sky CFO Andrew Griffith said. "There are lots of opportunities for Sky and Iflix to work together and share expertise as both companies continue to expand."

The company received $30 million in Series A funding last year from disruptive online and new media-focused VC Catcha Group and Philippine Long Distance Telephone Company. It now claims more than 1 million members in Southeast Asia and the largest library of Hollywood, Asian and local television shows and movies in the region.

Subscriptions allow access to the service on up to five devices including smart phones, laptops and tablets - demonstrating a strategic emphasis on mobile. Iflix has projected the number of smart phone users and households with fixed line broadband in Southeast Asia to surpass 240 million and 55 million, respectively, by 2018. Up to one-third of smart phone users in the region are already estimated to use their devices to watch long-form videos.

Iflix consolidated its focus on mobile last year via a strategic partnership with Malaysia's Digi Telecommunications aimed at offering an integrated mobile carrier billing scheme.

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• Topics
• Southeast Asia
• Media
• Expansion
• Technology
• Malaysia
• TMT