Iflix completes US$133 mln funding exercise

KUALA LUMPUR: if lix, a leading subscription video on demand service for emerging markets, has completed a US$133 million ( US$ 1=RM4.28) funding round, as it aspired to continue in delivering its vision of bringing the world’s best entertainment to its audiences.

In a statement yesterday, iflix said the funding round, which attracted significant interests from both new investors and existing shareholders, was led by Hearst, one of America’s largest diversi f ied media, information and services firms, and also included additional new investors, Singapore-based EDBI and clients of DBS private bank.

“The existing shareholders – Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc – also increased their investments,” it said.

i f l ix said the new round brought the total funding it raised this calendar year to over US$ 220 million.

The proceeds from the round would be used to invest in local content strategy, it said.

iflix recently unveiled its first exclusive original production, Oi Jaga Mulut, an audacious, uncensored, no holds barred stand-up comedy series, which since debuting in Malaysia last week, has skyrocketed to the leading show on the service.

The company saw 230 per cent growth in year- on-year revenue, and increased its commitment to localisation, producing 26,000 hours of subtit les in nine languages, with locally- curated content in every market.

if lix’s full content library showcases thousands of awardwinning and iconic first run programmes and library content from over 230 studio partners from 30 countries. — Bernama