Liberty Global Joins $90 Million Funding Round for Iflix

Liberty Global Joins $90 Million Funding
Courtesy of Iflix

Asian subscription video firm, iflix has attracted $90 million of capital from companies including Liberty Global. The capital will be used to boost its international expansion.

The company said that it had closed the funding round. New investors include: Liberty Global; Zain, a mobile and data services operator in the Middle East and Africa with which iflix recently established a joint venture ‘iflix Arabia’ in the Middle East and North Africa; and, an unnamed privately held investment management firm. Iflix also received additional capital from existing shareholders Sky PLC, Catcha Group and EMC.

The company, which positions itself as “the leading SVoD service for emerging markets,” is now operational in nine territories: Malaysia, Thailand, the Philippines, Indonesia, Sri Lanka, Brunei, the Maldives, Pakistan and Vietnam.

Launched in May 2015, it discloses few metrics. “iflix has rapidly established a significant leadership position, setting a new standard for delivering a world class streaming entertainment service that is passionately focused on the local customer. The service has seen exceptional growth, with more than 27x daily active accounts growth, and continued momentum in user engagement with over 5 billion minutes streamed since launch,” it said. It also claims: “more than 170 content relationships across Hollywood, regional and local studios and distributors.”

“There are currently more than 2.5 billion people with smartphones in emerging markets who have a passion for cultural influences from around the globe and want access to the best entertainment content available easily and reliably. It is our aim to make iflix available to each and every one of them,” said iflix co-founder and group CEO, Mark Britt.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading