iiflix, Southeast Asia’s leading Internet TV service, offering subscribers unlimited access to thousands of hours of entertainment at a very affordable price, today announced the completion of a $30 million round of funding. The round was led by leading international investment firm, Catcha Group and Philippine Long Distance Telephone Company (PLDT), the largest integrated telecommunications company in the Philippines.
The funds raised will be used to continue to roll out the iflix service across the Southeast Asia region, acquire rights to new content, produce original programming and market to potential customers.
iflix Chairman, Patrick Grove said: “We are excited to join forces with such an outstanding regional partner, who shares our vision. The new funds will allow us to execute on our plan to deliver thousands of hours of entertainment for a low monthly price to the 600 million consumers in the region.” Grove continued, “There is a seismic shift taking place in the global Entertainment landscape. We believe iflix is perfectly positioned to capitalize on this incredible opportunity.” PLDT Chairman, Manuel V. Pangilinan added, “We are very bullish about the prospects of the iflix service which has been designed to address the preferences and demands of the rapidly expanding Asian Market. PLDT looks forward to working with iflix to grow its business and introduce new media services that will fuel further the demand for broadband and mobile access in the Philippines and across Southeast Asia.
Launching in key Southeast Asian markets, including Malaysia, Thailand, Philippines, Indonesia, and Vietnam throughout 2015, iflix will offer consumers more than 10,000 hours of top U.S., Asian regional, and local TV shows and movies. Each subscription will allow a user to access the service on five devices, as well as download content to their mobile, tablet, computer, or television set, for viewing anywhere, anytime.
