Iflix, Southeast Asia's largest digital entertainment service, announced in a press release on Thursday that JTBC, South Korea's leading media company, through its content distribution arm, JTBC Content Hub, has become a strategic investor in the company.
Through this alliance, iflix will distribute JTBC’s premium content across Asia, setting the stage for further collaborations that may include co-productions in iflix markets, the company said.
JTBC has built its reputation as the source of South Korea’s fresh, youth-centric content that boldly embraces new formats, the company said. With its dramas, the company has made history for tackling complex and controversial themes, as well as setting viewership records in South Korea.
As part of the deal JTBC’s most popular content will be featured on iflix for free, including beloved South Korean dramas Welcome to Waikiki 2 and The Wind Blows, as well as top variety shows such as Men on a Mission and Chef and My Fridge, just one month following their Korean broadcasts.
In addition to premium catch-up TV, JTBC will also contribute an extensive library, exceeding 500 hours, of top-rated dramas, including SKY Castle, Cleaning with Passion Now, ID: Gangnam Beauty and Ms. Hammuribi, to iflix which will also be available to all iflix viewers for free.
The growth of Korean dramas has propelled the genre into the mainstream even outside South Korea. At iflix, this key vertical has seen exponential growth, consistently ranking high for user acquisitions and engagement in line with the Company’s target market, regardless of territory.
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, Chief Executive Officer of JTBC Content Hub, said: “iflix is a leading OTT service provider in Southeast Asia, and is providing quality content all over the region through its innovative platform. We are very glad that we could partner with iflix through this transaction. 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.”