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Pan-European pay-TV operator Sky has formed a strategic partnership with iflix, a leading Southeast Asia streaming TV service. As part of the partnership, Sky is investing $45 million (€41m) in iflix and the parties will work together to identify areas of future collaboration across the high-growth emerging markets in which iflix operates.
Currently available to consumers in Malaysia, Thailand and the Philippines, iflix launched in May 2015 and has already 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.
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 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, said that iflix had 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 said that as pioneers in the global broadcasting industry and true leaders in television and media,Sky shared iflix’s 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,” he added.