iflix secures strategic investment from Korea’s JTBC
JTBC Content Hub, the content distribution arm of South Korean cable network JTBC, is making a strategic investment in pan-Asian streaming platform iflix.
The alliance will see Kuala Lumpur-based iflix distribute JTBC’s premium content across Asian markets, head of possible collaboration on co-productions in some of the market iflix operates in.
JTBC has quickly grown to become one of Korea’s leading pay-TV operators, mostly due to its innovative, youth-centric dramas and other content. Among the JTBC dramas that will stream on iflix are Welcome To Waikiki 2 and The Wind Blows, as well as variety shows such as Men On A Mission and Chef & My Fridge, just one month after their Korean broadcasts.
In addition to catch-up TV, JTBC is also making its library available on iflix, including popular dramas such as Sky Castle, Cleaning With Passion Now, ID: Gangnam Beauty and Ms. Hammuribi.
Korean drama travels more successfully than series from any other Asian territory, finding audiences not just across the rest of Asia, but also in North America and Europe. Iflix is available in more than 20 territories across Asia and the Middle East.
Earlier this month, iflix also announced a strategic investment from Japan’s Yoshimoto Kogyo group. Based in Kuala Lumpur, iflix raised $45m from Sky in 2016, $90m from investors including Liberty Global in March 2017 and completed another $133m funding round with investors including Hearst in August 2017.
Mark Britt, iflix co-founder and group CEO, said: “JTBC is a powerhouse in Korea, producing exciting new content that reflects the dynamic Korean entertainment industry. We are thrilled to welcome JTBC to the iflix family as investors and collaborators in our commitment to providing our viewers the most compelling free content in the region.”
Kyungmoon Jung, CEO of JTBC Content Hub, added: “With its fast-growing economy and attractive demographics, Southeast Asia has always been one of the most important regions to JTBC. Through iflix, we hope more and more SEA people enjoy JTBC’s exciting and trend-leading content”.