Iflix, the Asian subscription video-on-demand service, has roped in 90 million USD from investment by PCCW’s Liberty Global and Zain (Kuwait-based mobile operator), which recently made the platform available in the Middle East North Africa. Additional capital from Sky, Catcha Group and EMC was also secured by Iflix.
Liberty Global’s chief programming officer, Bruce Mann, said: “Investing in an innovative emerging business like iflix enables us to gain an even greater insight into subscription video-on-demand services, as we continue to develop our own evolving video entertainment propositions for millions of our customers […]”
To recall, Zain being present in several Middle East and North African countries like Kuwait, Bahrain, Iraq, Jordan, Lebanon, Saudi Arabia and Sudan, will be introducing Iflix Arabia in these countries in the second quarter of this year.
Mark Britt, the co-founder and group CEO of iflix’s, is positive about the develpment: “We are incredibly excited with the demand we are seeing for iflix in the Middle East and Africa, as well as other new markets in Asia and worldwide. The new funds will enable us to seize this immense opportunity and continue to empower local consumers and provide them with the best content and services available, and the freedom to enjoy that offering whenever and wherever they want, wherever they are in the world”.
He also added that: “There are currently more than 2.5 billion people with smartphones in emerging markets who have a passion for cultural influences from around the globe and want access to the best entertainment content available easily and reliably. It is our aim to make iflix available to each and every one of them. Having exceptional partners, Liberty Global, Zain, Sky, Evolution Media and Catcha Group who share our vision, will be fundamental to our success as we expand our footprint in Asia and roll out the service in the Middle East and Africa”.