Established only last May, iFlix is currently available in Malaysia, Thailand and the Philippines, with over one million subscribers. (JG screenshot)
Emtek Joins Sky in Funding Round for Streaming Service iFlix
BY :TABITA DIELA
MARCH 10, 2016
Jakarta. Elang Mahkota Teknologi, or Emtek, one of Indonesia's biggest media groups, will be putting money into Kuala Lumpur-based video streaming service iFlix, in a move that could pave the way for the service to enter the Indonesian market in the near future.
The Indonesian group joined with British multinational entertainment company Sky in the funding round, iFlix said in a statement on Thursday (10/03). The company did not disclose the size of Emtek's investment, made through its subsidiary Surya Citra Media.
SCM is Emtek's content branch, making programs for the free-to-air TV stations Surya Citra Televisi (SCTV) and Indosiar.
"In response to both the rapid growth and customer adoption in our existing markets and strong demand from new markets, we have decided to accelerate our expansion plans for the business sooner than expected," Mark Britt, iFlix co-founder and group CEO, said in a statement.
Established only last May, iFlix is currently available in Malaysia, Thailand and the Philippines, with over one million subscribers.
The Southeast Asian streaming service said in the statement that the new funding would "help accelerate the company's growth and to expand the company into new markets."
Netflix, a US-based on-demand streaming service, unveiled its service in Asia two months ago.
Netflix gained nationwide attention in Indonesia after it was blocked by the country's biggest Internet service provider, Telkom Indonesia.
The service that iFlix offers currently is priced significantly lower than the rates or Netflix. The service is priced at 8 ringgit ($1.94) per month in Malaysia, while Netflix subscribers pay $8.34 per month in Indonesia.