Sky has announced that they have invested $45 million in streaming service iFlix, the service is popular in Asia and the two companies have formed a partnership.
Sky will work with iFlix to promote the service in emerging markets and also on other projects, exactly what those projects are have not been revealed.
iFlix’s Rapid Growth and Market Expansion
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.
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’s rapid growth can be attributed to its understanding of the local markets and its ability to offer a wide range of content that appeals to diverse audiences. The service provides a mix of local and international content, including movies, TV shows, and exclusive series. This strategy has helped iFlix to quickly gain a foothold in the competitive streaming market.
Strategic Partnership and Future Projects
The partnership between Sky and iFlix is expected to bring significant benefits to both companies. Sky, with its extensive experience in the media and entertainment industry, can provide valuable insights and resources to help iFlix expand its reach. On the other hand, iFlix’s strong presence in Southeast Asia offers Sky an opportunity to tap into new markets and grow its global footprint.
While the specific projects that Sky and iFlix will collaborate on have not been disclosed, there are several potential areas where they could work together. For example, they could develop new content tailored to the preferences of Southeast Asian audiences or create innovative marketing campaigns to attract more subscribers. Additionally, they could explore opportunities to integrate their technologies and platforms to enhance the user experience.
The investment from Sky is also likely to help iFlix improve its infrastructure and technology. This could include upgrading its streaming capabilities to provide better video quality and faster load times, as well as enhancing its recommendation algorithms to offer more personalized content suggestions to users.
Moreover, the partnership could lead to the introduction of new features and services on the iFlix platform. For instance, they could launch live streaming options for sports events or concerts, or introduce interactive features that allow users to engage with the content in new ways. These innovations could help iFlix differentiate itself from competitors and attract a larger audience.
You can find out more details about the deal between Sky and iFlix over at Sky’s website at the link below.
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