">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Thursday, January 21, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Tech

iflix raises $133m funding led by Hearst to take on Netflix in emerging markets

Milcah Lukhanyu by Milcah Lukhanyu
3 years ago
in Tech
6 min read
0

iflix, a Subscription Video on Demand (SVoD) service for emerging markets has raised $133 million led by Hearst and new investors Singapore-based EDBI and clients of DBS private bank and existing shareholders Evolution Media, Sky PLC, Catcha Group, Liberty Global, Jungle Ventures and PLDT Inc. to bring the world’s best entertainment to its audiences.

iflix says it will use the new funds to further execute on its local content strategy and expand its technology and development teams to meet the unique challenges of emerging markets. These new funding follows a $90m raise in March this year led by Liberty Global and Zain Group to expand operations in South East Asia and launch in Middle East and Africa targeting the growing smartphone users.

According to iflix Co-founder and Group CEO Mark Britt: “We are thrilled to welcome Hearst President and CEO Steven Swartz and Hearst Entertainment & Syndication President Neeraj Khemlani to the iflix family. As iflix continues to grow and pioneer new ways for consumers to enjoy entertainment on their terms, we were looking for a partner who could bring additional expertise and knowledge to our business.”

Hearst is a plus for iflix because of its many innovative and iconic video brands, including ESPN, A+E Networks, Vice, AwesomenessTV, Complex and more.  The new round brings total funding raised by iflix this calendar year to an excess of $220 million and iflix aims to use it to invest in exclusive content production in its markets and sign up new content partners. Recently, the firm partnered with TVOne to launch live premiere football streaming in Indonesia. Last week, iflix Philippines announced its collaboration with the Philippines’ Queen of All Media, Kris Aquino, to commission an original drama series.

READ  Endless is Building Computers For The World's 5 Billion PC-less Population

Since going live in May 2015, iflix says it has seen extraordinary growth across expanding from four markets to 19 across Asia, the Middle East and Africa. The company has additionally built deep integrated distribution partnerships with 27 leading telecommunications operators to bundle the iflix service with customers’ mobile and data subscriptions, all sponsored by the telecommunications provider.

The company has increased its commitment to localization, producing 26,000 hours of subtitles in nine languages, with locally-curated content in every market. iflix’s full content library showcases thousands of award-winning and iconic first run programs and library content from over 230 studio partners from 30 countries. Founding shareholders Evolution Media and Catcha Group have participated in all preceding capital raisings and further increased their support this round.

President of Hearst Entertainment & Syndication Neeraj Khemlani said: “iflix is riding the wave of exponential growth of the middle class in emerging markets that want more access to premium regional, local and Western content. We look forward to working with our new partners Sky, Liberty Global, Evolution Media and Catcha Group, as well as emerging market telcos, to support iflix’s innovative founders and management team in their rapid expansion plans.”

Related posts

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0

Safaricom Will Allegedly Allow The National Intelligence To Illegally Forward Your Calls

January 20, 2021
0

Safaricom Foundation’s Ndoto Zetu Supports 2,000 Students in Six Counties 

January 20, 2021
0

Apart from Netflix, some of the iflix competitors include Amazon Prime Video, Showmax, BritBox and NuVu among others.

Readers 2,472

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Tags: iflixNetflix
Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Tech

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021
0
Hacks & Facts

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021
0
Tech

Safaricom Will Allegedly Allow The National Intelligence To Illegally Forward Your Calls

January 20, 2021
0
Tech

Safaricom Foundation’s Ndoto Zetu Supports 2,000 Students in Six Counties 

January 20, 2021
0
Tech

Tatu City Partners with Konza to Attract Investors to Kenya

January 19, 2021
0
searchengineland.com
Tech

SEO for Beginners: Where to Start and What You Need

January 19, 2021
0
Tech

Why Dota 2 Viewership Is Going Up

January 19, 2021
0
pregnant woman kenyan
Tech

Nakuru County Has Introduced Smart Watches That Will Monitor Expectant Mothers

January 19, 2021
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

Why Michelle Obama Is Trending On Twitter

January 20, 2021
Cheerful young businessman in round spectacles and formal wear, checks newsfeed on modern smart phone, connected to wireless internet, has happy look as recieves positive news from colleagues

TransUnion partners SA’s financial marketplace, Fincheck, to make the credit application process easier and less frustrating

January 20, 2021

Sophos Named Common Vulnerability and Exposure Numbering Authority 

January 20, 2021

Your Ultimate SEO Audit Checklist for 2021

January 20, 2021

Safaricom Will Allegedly Allow The National Intelligence To Illegally Forward Your Calls

January 20, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: