Malaysia-based iflix offers users in emerging markets access to thousands of TV shows and movies from over 230 studio partners in 30 countries

iflix, a subscription video on-demand services company for emerging markets, today announced that it has closed a new US$133 million in funding round led by Hearst, a leading diversified media, information and services company in the US.

Existing investors, including Evolution Media (a TV production company based in the US), Sky Plc (an on-demand internet streaming media, broadband and telephone services company in London), Catcha Group (a leading internet group in Southeast Asia), and Liberty Global (a telecom and TV firm in the US), besides Jungle Ventures, EDBI, Philippine telco PLDT Inc., and clients of DBS bank, also joined the round.

Also Read: iflix officially opens its Africa HQ, plans to roll out in five African markets this year

This round brings iflix’s total funding raised in this calendar year to over US$220 million. This included an over US$90 million funding in May from Liberty Global, telecom company Zain, and a private consumer business investment management firm in Africa.

“These new funds will allow us to further execute on our local content strategy and expand our technology and development teams so we can continue to rapidly evolve the iflix service to meet the unique challenges of emerging markets,” said iflix Co-founder and Group CEO Mark Britt.

“As iflix continues to grow and pioneer new ways for consumers to enjoy entertainment on their terms, we were looking for a partner who could bring additional expertise and knowledge to our business. Hearst is a leading investor and has many of the world’s most innovative and iconic video brands, including ESPN, A+E Networks, Vice, AwesomenessTV, Complex and more. This collaboration significantly deepens our bench of experts with our longstanding partners Evolution Media, Sky and Liberty Global to help drive iflix’s continuing growth,” Britt added.

Launched in May 2015, iflix offers users access to thousands of TV shows and movies from over 230 studio partners in 30 countries. It has a huge selection of comedies, drama, Korean drama, Turkish drama, Bollywood, Nollywood, cartoons, movies and more from Hollywood, the UK, Asia, the Middle East and Africa.

iflix recently unveiled its first exclusive original production in Malaysia, Oi Jaga Mulut, a stand-up comedy series. Partnering with TVOne, iflix also recently launched live premiere football streaming in Indonesia. Last week, iflix Philippines announced its collaboration with the Philippines’ Queen of All Media, Kris Aquino, to commission an original drama series.

Also Read: In Photos: From iflix to REV Asia to iCar, take a tour of the Catcha Group offices

iflix is currently available to consumers in 19 countries, including Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, the Maldives, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraq, Lebanon, Egypt, Sudan and Cambodia. For a monthly fee, subscribers can watch videos on their mobile phone, laptop, tablet, and TV.

Additionally, the company has built distribution partnerships with 27 leading telcos to bundle the iflix service with customers’ mobile and data subscriptions, all sponsored by the telecommunications provider.

iflix claims to have seen 230 per cent revenue growth year on year. It claims to have increased its commitment to localisation, producing 26,000 hours of subtitles in nine languages, with locally-curated content in every market.

In April this year, iflix had partnered with Zain to launch ‘iflix Arabia’ in the MENA region. A month earlier, it roped in Georg Chmiel as CFO and Director of iflix International.

The company has previously raised over US$75 million from investors including Sky, Jungle Ventures, Catcha Group and Elang Mahkota Teknologi Tbk PT.

Image Credit: iflix

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