If you’re like me and you’re still waiting for the day that an on-demand video streaming service like Netflix to officially (not to mention legally) arrive in Malaysia, you may not have to wait much longer. A new startup called iFlix Asia, under the Catcha Group, will be launching its services here as soon as March of this year and it already has an office in Mid Valley City.
According to a report in the The Australian (paywalled), iFlix has already negotiated deals with Warner Bros, MGM, Primeworks Studios, RedBull TV and Starz for content. This will allow iFlix to compete with cable and satellite television operators in the Asian region.
The initial Malaysian service will offer 10,000 hours content of which, 40% will be from US, 30% from Asia and the final 30% will be from the domestic Malay market. iFlix intends to implement the same formula for the future, in the other regions that it launches in.
For now, after the Malaysian launch (once again if you’re not excited enough: in another two months!!), iFlix service will expand to Indonesia, The Philippines, Thailand, and Vietnam, before the end of next year. After which, the company will look into growth opportunities in Pakistan, Turkey, Kazakhstan, Uzbekistan and Sri Lanka. iFlix Asia believes that by 2018, its service will be available to more than 240 million smartphones and 55 million fixed-broadband equipped households. The smartphone market will be the prime focus and iFlix Asia’s marketing messages will keep mobile as its focal point.
To grow the business, it is also reported that up to 5 Hollywood-based partners will be able to get in on the action when iFlix Asia puts up a 20% stake in the company for sale. This will help to ensure that the startup remains on track to generate sales to the tune of US$ 1 billion within the next 8 to 10 years.
iFlix Asia has also expressed its lack of concern on Netflix making its move into this region and this they attribute to Netflix’s focus on South America and Britain. (Netflix is actually available in all of North America; except Cuba, South America, Denmark, Ireland, The Netherlands, Norway, Sweden, Finland, United Kingdom, France, Switzerland, Austria, Belgium, Luxembourg and Germany)
iFlix Asia believes that its streaming service can play an important role in addressing the rampant piracy issues that is besieging this region. It believes that the iFlix’s low price point and the advent of mobile devices+connectivity will stave people away from purchasing content in illegal forms.
At launch, the iFlix service will be offered at US$ 3 (~RM 11) a month with no contract and will allow subscribers to stream on 5 devices per account; 2 simultaneous streams. iFlix will also offer something that Netflix currently does not offer; the ability to download content now and play them later. iFlix Asia is calling this a revolution in entertainment and I have to agree. Sorry Netflix, but you may not get our money after all.
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