Entertainment conglomerate Sky has invested in iflix, a leading Southeast Asia streaming TV service.
With the US$45 million investment in iflix, the parties will work together to identify areas of future collaboration across the high-growth emerging markets.
Currently available to consumers in Malaysia, Thailand and the Philippines, iflix launched in May 2015 and has signed up over one million members. It aims to extend its service to new ASEAN markets in the coming months as demand for the service grows.
Sky is Europe’s largest provider of TV content on mobile, IPTV and OTT services through NOW TV, Sky Online and Sky Go. Sky’s investment in iflix includes the purchase of $2.5m of shares from existing investors.
Andrew Griffith, group chief financial officer, Sky 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.”
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.”