Sky just invested $45m in Netflix rival iflix in Asia

Lynsey Barber
Follow Lynsey
2016 Winter TCA Tour - Day 10
Mr Robot is one of the shows available on Iflix (Source: Getty)

Sky is flexing its tech investment muscles again, splashing millions for a stake in a movie and TV streaming service in south east Asia which rivals Netflix.

The broadcaster has invested $45m (£31.6m) in iflix which boasts one million users in Malaysia, Thailand and the Philippines since launching under a year ago and has plans to expand across the region.

It streams content on demand from the likes of the BBC, Disney, NBC Universal, Fox, Warner Bros and Paramount in Asia.

Read more: Now Sky's doing virtual reality news reporting

Netflix announced plans to launch in a further 130 countries, including a major push into Asia, at the start of the year.

"iflix has quickly established itself as Southeast Asia's most exciting and fastest-growing streaming TV service," said Sky finance chief Andrew Griffith. "There are lots of opportunities for Sky and iflix to work together and share expertise as both companies continue to expand. We are really looking forward to supporting Mark and his team deliver their ambitious plans."

Sky has made a number of tech startup investments in recent years. It has previously taken a stake in streaming device maker Roku and VR content company Jaunt among others.

Related articles