Iflix Secures Additional $133 Million Funding, Led by Hearst

Paterniano Del Favero
Agosto 8, 2017

The company's investors include Catcha Group, Evolution Media, John C. Malone's Liberty Global and Sky, which all increased their investments as part of the latest funding round.

The new round brings total funding raised by iflix this calendar year to $220 million. 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 numerous world's most innovative and iconic video brands, including ESPN, A+E Networks, Vice, AwesomenessTV, Complex and more".

Iflix is a subsidiary of Kuala Lumpur-headquartered internet company Catcha Group.

Founding shareholders, Evolution Media and Catcha Group, increased their participation in all preceding capital raisings and further increased their support this round.

Netflix now has more customers outside the U.S. than at home.

Malaysia's iflix has raised US$133 million (RM569 million) in its latest funding round led by USA diversified media, information and services company Hearst, bringing the total investments to-date in the video-on-demand service to US$303 million (RM1.29 billion). "It's fascinating to see iflix learn, scale and forge this new path".

IFlix, a paid online video service for emerging markets, has raised US$133mil to invest in original programming that can help it stand out from larger competitors Netflix Inc and Amazon.com Inc. Similarly with Smart, MobiFone customers are allowed a one month free access to iflix. The collaboration will leverage off the region's rapid increase in smartphone penetration and growing consumer demand for quality entertainment. Iflix has also partnered with TVOne to offer live premiere football streaming in Indonesia, and with Queen of All Media to launch an original drama series in the Philippines.

"From the beginning, our vision for iflix has been to build a word-class service for the local customer, transforming the way everyday consumers enjoy entertainment in emerging markets".

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