Hearst leads $133m funding round for SVOD platform iflix

Iflix has completed another hefty funding round, this time led by US media giant Hearst, which adds another $133m to the coffers of the fast-expanding SVOD platform.

The funding round also includes Singapore-based EDBI and clients of DBS private bank. Existing shareholders Evolution Media, Sky, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc also increased their investments. 

Launched in May 2015, iflix is now operating in 19 territories across Asia, the Middle East and Africa. It has also entered into distribution partnerships with 27 telecoms operators across the region, which bundle the iflix service with customers’ mobile and data subscriptions.

In the most recent expansion move, the service was launched in Cambodia earlier this week through a three-year exclusive partnership with Axiata group’s Cambodian telco Smart.

All Smart customers will receive up to three months unlimited access to iflix, along with new weekly and monthly iflix data plans, Smart StreamOn 2 and Smart StreamOn 8. Once customers start paying, the monthly subscription rate is only $3.

The new round brings total funding raised by iflix this calendar year to more than $220m, which will be used to invest in its local content strategy. Iflix recently unveiled its first exclusive original production, Oi Jaga Mulut, a Malaysian stand-up comedy series. The company has also partnered with the Philippines’ Kris Aquino –an actress, producer and talk show host – to produce an original drama series.

Partnering with Indonesia’s TVOne, iflix has also launched live premiere football streaming, available for the first time in Indonesia, which has become one of the platform’s highest performing shows in that market with more than 34,000 unique viewers in the first week.