LONDON — European pay TV operator Sky has investing $45 million in iflix, a leading Southeast Asia streaming TV service. The companies will work together to “identify areas of future collaboration across the high-growth emerging markets in which iflix operates.”
Iflix launched last May and is available to consumers in Malaysia, Thailand and the Philippines. It aims to extend its service to new markets in Southeast Asia in the coming months. It has signed up more than one million members to date.
For a small monthly subscription, users have unlimited access to tens of thousands of hours of content from a library of Hollywood, Asian regional and local TV shows and movies. They can watch the service on multiple connected mobile devices including tablets and smart phones.
Sky’s investment in iflix includes the purchase of $2.5 million of shares from existing investors.
Sky is Europe’s largest provider of TV content on mobile, IPTV and OTT services through NOW TV, Sky Online and Sky Go.
Iflix co-founder and group CEO, Mark Britt, commented: “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.”
Andrew Griffith, Sky’s group chief financial officer, 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.”