iflix_mnc_funding

Asian streaming platform iflix has announced an undisclosed investment and partnership with Indonesian media giant PT Media Nusantara Citra Tbk (MNC).

Following the partnership, MNC CEO David Fernando Audy was also appointed to the startup’s advisory board.

“Indonesia continues to be an incredibly important market for iflix and MNC’s influence and resources in the industry are a powerful advantage for us in the execution of our strategy as we continue to cement our leadership as a digital entertainment service in Indonesia,” said iflix Co-Founder and Group CEO Mark Britt in a press statement.

The strategic partnership will see the inclusion of up to 10,000 hours of MNC content in the iflix platform.

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The Indonesian media giant’s portfolio includes four national free-to-air TV stations which account for 46 per cent share of Indonesia’s ad-based television, in addition to 20 subscription-based channels, radio network, and print media.

e27 has reached out to iflix to find out more details about their plans with the partnership.

Following its recent exit from the African market with the sales of its business unit to Econet, iflix has been focussing heavily on Asian market.

In April, South Korean media company JTBC Content Hub made a strategic investment in the startup.

Japanese entertainment giant Yoshimoto Kogyo has also invested in the company, and set up a joint venture to promote Japanese content in the platform.

Image Credit: iflix