Magazine article Screen International

Hearst Leads $133M Funding Round for SVOD Platform Iflix

Magazine article Screen International

Hearst Leads $133M Funding Round for SVOD Platform Iflix

Article excerpt

The subscription video-on-demand service focuses on emerging markets.

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. …

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