Sky eyes Asian market with $45m dollar investment in Netflix rival iflix
Sky has invested $45 into streaming service iflix, marking its first stake in the Asia Pacific region.
Iflix, which is available to viewers in Malaysia, Thailand and the Philippines has signed up over one million members, offering content from a library of Hollwood, Asian regional and local TV shows and movies.
Though Sky and its on-demand service Now TV, are already active in the UK and in other European regions such as Germany and Italy, it has yet to establish itself as a go-to platform for Asian viewers.
The broadcaster will help iflix expand its services in the region, with the pair saying they will “work together to identify areas of future collaboration across the high-growth emerging markets” in which the Netflix rival operates.
The move follows Netflix’s global expansion in January to 130 new countries. The company has been upping the ante on its business in Asia as of late, including going on the hunt for marketing directors to help lead its growth there.
Andrew Griffith, group chief financial officer at Sky commented: “iflix has 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," he added.