Sky has today announced a strategic partnership with iflix, a leading Southeast Asia streaming TV service. As part of the partnership, Sky is investing US$45 million in iflix and the parties will work together to identify areas of future collaboration across the high-growth emerging markets in which iflix operates.
Currently available to consumers in Malaysia, Thailand and the Philippines, iflix launched in May 2015 and has already signed up over one million members. It aims to extend its service to new ASEAN markets in the coming months as demand for the service grows.
For a small monthly subscription users have unlimited access to tens of thousands of hours of content from a library of Hollywood, Asian regional and local TV shows and movies. They can watch the service on multiple connected mobile devices including tablets and smart phones.
Sky is Europe's largest provider of TV content on mobile, IPTV and OTT services through NOW TV, Sky Online and Sky Go.
Sky's investment in iflix includes the purchase of $2.5m of shares from existing investors.
Andrew Griffith, Group Chief Financial Officer, 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. We are really looking forward to supporting Mark and his team deliver their ambitious plans .
iflix co-founder and Group CEO, Mark Britt commented: We are thrilled to welcome Sky to the iflix family. As pioneers in the global broadcasting industry and true leaders in television and media, they share our passion for delivering market-leading content and services through innovation. Sky's investment will further support our commitment to providing our members with the best in entertainment.
Notes to editors
1) References to iflix are to iflix Ltd
2) Gross assets subject to this transaction were $45m
3) Profits attributable to the assets subject to this transaction were $nil
4) The transaction will be settled with cash from existing group resources
For further information, please contact:
Media
Eleanor Mills
Email: eleanor.mills@sky.uk
Telephone: +44 (0)207 0326615
Follow us on twitter @SkyCorporate
Analysts/ Investors:
Ed Steel
Email: investor-relations@sky.uk
Telephone: +44 (0)207 0322093
ABOUT SKY
Sky is Europes leading entertainment company, serving 21 million customers across five countries: UK, Ireland, Germany, Austria and Italy. We offer the best and broadest range of content, deliver market-leading customer service and use innovative new technology to give customers a better TV experience, whenever and wherever they choose.
Sky has annual revenues of over £11 billion and is Europes leading investor in television content with a combined programming budget of £4.9 billion. The group employs 30,000 people and is listed on the London Stock Exchange (SKY).
For more information visit www.sky.com/corporate
ABOUT IFLIX
iflix is Southeast Asia's leading Internet TV service, offering users unlimited access to tens of thousands of hours of top TV shows and movies from all over the world. With a huge selection of your favorite comedies, drama, K-drama, cartoons plus movies from Hollywood, The UK, Asia and more, iflix places the entertainment you want at your fingertips. For one low monthly fee, iflix subscribers can watch on their mobile phone, laptop, tablet, TV wherever, whenever.
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Sky has today announced a strategic partnership with iflix, a leading Southeast Asia streaming TV service. As part of the partnership, Sky is investing US$45 million in iflix and the parties will work together to identify areas of future collaboration across the high-growth emerging markets in which iflix operates.
