JAKARTA/SINGAPORE -- Malaysia-headquartered video streaming platform iflix is in talks for a sale to avoid a looming debt crisis and has appointed distressed asset specialists to its board of directors after the departure of its two co-founders, DealStreetAsia has learnt.
What makes iflix such an interesting partner is its international reach. The company offers streaming television shows and films in Indonesia as well as Malaysia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, Myanmar, Vietnam, the Maldives, Kuwait, Bahrain, Saudi Arabia, Jordan, Iraq, Lebanon, Egypt, Sudan, Cambodia, Nigeria, Kenya, Ghana, Nepal, Bangladesh, Zimbabwe, Morocco, Tanzania and Uganda.
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According to its media messaging about the news, Wattpad says more than 1 billion consumers are able to access iflix in Asia, the Middle East, and Africa. The potential for iflix open new markets for Wattpad content right across the ASEAN world and into North Africa is substantial.
About the new iflix-Indonesia deal, he now says, All over the world, entertainment companies are recognizing the need to find original stories from new voices. This deal represents the future of entertainment, where technology and data converge with new voices in storytelling to transform how great content gets made and distributed.
Global Director of Data Analytics Bruno Gagliardo shares how iflix uses Tableau to make sense of user data across different regions, and transform insights on consumer preferences into meaningful and effective content to retain and acquire customers.
iflix started using Tableau in 2017, and more than 350 staff today use Tableau to view and analyze data on a daily basis, from the content team to operations, sales and finance. One of the key insights iflix uncovered from their data was better understanding of audience preferences in different markets, enabling them to craft more original content suited to different local audiences. The iflix product has evolved tremendously from its beginnings three years ago, now offering free ad-sponsored content alongside a subscription-based tier with more local and original productions.
TechCrunch understands that this new funding values the iflix business around the $500 million post-money mark, according to a source with knowledge of the round. iflix declined to comment. A public filing from investor PLDT made last year shows the firm was valued at $450 million following the investment from Sky.
While iflix may have bitten off a little more than it was immediately ready to chew, Britt is confident that there is an spot to play for despite both Amazon and Netflix expanding their services globally, and local competition from legacy broadcast players.
Beyond expansions into new markets, iflix is also working on its own original content. First announced last year, Britt said there would be more details on upcoming programming in the near future as iflix looks to evolve from challenger into established broadcast medium.
Wondering what can you watch on iflix? Discover here all the online movies and TV shows that are currently streaming on iflix.Ā
JustWatch is a streaming search engine that allows you to search and browse through different providers, including iflix. Search, filter and compare prices to find the best place where you can buy or rent movies and TV shows.
Launched in May 2015, iflix is known as a market leader in the video sectors of developing markets in Asia, the Middle East and Africa. Currently active in 28 territories, iflix says Indonesia represents its fastest-growing market, with subscribers there recently topping 9 million.
iflix has rights deals with the likes of MGM, Disney, Warner Bros, Paramount, Fox and the BBC, as well as several Asian distributors. In April 2015, iflix raised $30m in Series A funding led by one of the largest telecoms companies in the Philippines.
Like Netflix, iflix charges a monthly subscription for access to TV and movies on mobile, laptop, tablet and through smart TVs. Shows available include The Flash from Warner Bros, BBC hit drama Sherlock and Devious Maids from ABC Studios.
Unlike Netflix, which primarily offers English-language films and TV shows, some local content is available on iflix. The service is also cheaper than its American rival; subscriptions in Malaysia start at RM8 (1.35) per month, compared to Netflix's lowest fee of RM31 (5.30).
Headquartered in Kuala Lumpur, iflix currently has 25 million subscribers across 13 territories, including Malaysia, Indonesia, the Philippines, Thailand, Brunei, Sri Lanka, Pakistan, the Maldives, Myanmar, Vietnam, Cambodia, Nepal and Bangladesh.
Founded in 2014, iflix had changed strategy several times over the past few years, starting out as an SVOD service catering to emerging markets, with a much lower price point than Netflix, before switching to a freemium model with subscription and ad-supported tiers in 2018. In 2017, it expanded into multiple territories in the Middle East and Sub-Saharan Africa, but as it burned through cash was quickly forced to retreat from both regions.
The demise of both HOOQ and iflix as standalone regional services highlights the difficulties of competing on the one hand with global players like Netflix, and on the other, with smaller in-country services, aligned with local broadcasters or technology services, and already deeply entrenched with local consumers.
Other new investors included Singapore-based EDBI and clients of DBS private bank, iflix said in a statement. Existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc increased their investments, it added.
From Aug 10, iflix subscribers in Cambodia started enjoying Premier League and Spanish La Liga action via the newly-launched 24-hour beIN SPORTS 1 and beIN SPORTS 2 channels on iflix, with catch up available for matches.
Group chief strategy and marketing officer of Axiata, Dominic Arena said: In line with our three-year group-wide strategic partnership with iflix inked in 2017, Axiata is excited bring premium content to our customers. This first activation, makes live Premier League action available to iflix customers through our Cambodian operating company, Smart Axiata.
The 20,000 Foot View: Video streaming services in Southeast Asia first appeared in 2015 and have evolved into the main video consumption platforms for local consumers. With a combined population of million, and a combined GDP of trillion, Thailand, Malaysia and Indonesia represent sizeable and attractive growth markets for streaming services. The largest players by subscriptions are Netflix, iflix and Viu. Streaming services are competing for growth through a mix of revenue models: subscription video on demand (SVOD), advertising video on demand (AVOD), and a hybrid of both. Global SVOD giants Netflix and Amazon Prime Video are both constrained by localisation strategies in both content and features, allowing local incumbent services resilience and rich opportunities for the new direct to consumer entrants coming to market in
Companies and brands mentioned in this report: Ā Advanced Service Info (AIS), Amazon Prime Video, Apple TV, BeIN, CJ ENM, Catcha Group, Catchplay, Dim Sum, Disney, Football Malaysia Limited Liability Partnership, GoPay, Grab, GrabBike, HOOQ, iflix, Indosat Ooredoo, JTBC, KBS, Klikfilm, Maxis, Netflix, PLDT Inc, Telekomsel, Uber, Viu 006ab0faaa
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