Tencent buys SEA streaming platorm iflix

Chinese entertainment giant Tencent just purchased iflix, a Southeast Asian streaming service.

Tencent, iflix logo

Tencent now owns iflix!

Tencent purchased iflix to extend the reach of WeTV, its own streaming platform into the region.

To recall, iflix was first founded in 2014 to compete with Netflix in Southeast Asia. The streaming platform is widely available in Malaysia, Indonesia, Philippines, Vietnam, Thailand, Sri Lanka, Maldives, Pakistan, Myanmar, Cambodia, Nepal, and Bangladesh.

Tencent said that most of the iflix current staff will be retained. It includes CEO Marc Barnett.

The financial details of the transaction were not disclosed. The purchase includes iflix's content, technology, and resources.

This should give WeTV's current users a wider range of international, local, and original content in the region.

Why? iflix has 25 million monthly active users.

WeTV is operated by Tencent Video which offers original Chinese content. It was first introduced in Thailand with Thai dubbing and other content made with local partners. It is also available in the Philippines and Indonesia.

Source: Tech in Asia