Southeast Asia’s immense population and rapidly growing smartphone user base is soon-to-be revolutionized by a new subscription Video On Demand platform – iflix. Launching throughout 2015 in key Southeast Asian markets, including Malaysia, Thailand, Philippines, Indonesia, and Vietnam, iflix will fight entertainment piracy and provide an entirely new and legitimate way for the region’s hundreds of millions of Internet users to enjoy their favorite films and television shows.
The platform was founded by Patrick Grove, CEO of Malaysia-based Catcha Group, who is one of the world’s leading tech entrepreneurs, with an established track record executing highly successful disruptive digital businesses in emerging markets. Evolution Media Capital (EMC), a merchant bank focused on the media, sports, and entertainment industries, is also a co-founder of iflix, and its Managing Partner, Rick Hess, will join the iflix board of directors.
Said Grove, “More than ninety-percent of ASEAN households currently consume pirated content. This has been an enormous problem for American content producers,who create the high-quality entertainment that Southeast Asian consumer’s desire, but rarely receive the financial benefit. We finally have the game-changing solution to not only combat piracy, but also allow consumers access to incredible content on every
connected device, whenever and wherever they want it, for less than the price of a pirated DVD.”
The service will provide access to more than 10,000 hours of top-tier U.S., Asian regional, and local market content. Each subscription will allow a user to access the content on five devices, as well as download content to their mobile, tablet, computer,or television set (via a media player.)
By adopting a mobile-oriented business model, iflix is directly targeting a booming market opportunity. The number of Southeast Asian smartphone users and households with fixed line broadband is expected to grow in excess of 240 million and 55 million,respectively by 2018. Between 14%-38% of these smartphone users are already watching long-form videos on their devices1, a fact that will contribute to iflix’s success.
About iflix. (Iflix.com)
iflix is a partnership between highly successful, disruptive local entrepreneurs and Hollywood heavyweights. Catcha Group and Evolution Media Capital have joined together to create an internet TV service for Southeast Asia that provides access to thousands of hours of top TV shows and movies from all over the world. From Hollywood and Hong Kong, Seoul and Shanghai, Thailand and Tokyo, iflix gives you the entertainment content you want, whenever and wherever you want it. For one low monthly fee, subscribers to iflix can watch an unlimited amount of television shows and movies on their phone, laptop, tablet, TV… anywhere, anytime.
About Catcha Group (catchagroup.com)
Catcha Group is a leading international investment firm focused on disruptive digital business models in emerging markets. The Company’s holdings include four publicly listed entities and over 50 additional private investments in the digital space, with a portfolio of online assets worth well in excess of US$1BN.Catcha Group has successfully completed four separate IPOs to date: iProperty Group (ASX:IPP), owner and operator of Asia’s number one network of property websites; Rev Asia Berhad (ACE:0173), Malaysia’s leading online media company; iCar Asia (ASX:ICQ), owner and operator of ASEAN’s largest network of online automotive classified and content sites; and Ensogo Ltd (ASX:E88), Southeast Asia’s No. 1 ecommerce brand.
About Evolution Media Capital (EMC)
Evolution Media Capital, LLC (EMC) is a merchant bank focused on the media, sports and entertainment industries. EMC provides investment banking services including M&A advisory, public and private equity and debt capital raising, and strategic consulting to maximize value for its global clients. EMC’s principal investing arm,Evolution Media Growth Partners (EMGP), was formed in partnership with TPG Growth
to invest in growth stage media sports and entertainment companies. In the media rights space, EMC provides a wide array of advisory services including strategic analysis, valuation and negotiation of media rights, and regional sports network planning and operational strategy. Based in New York and Los Angeles, EMC is an affiliate of leading entertainment and sports agency Creative Artists Agency (CAA).