Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News

      Samsung’s bet on folding phones faces major test

      10 July 2025

      OpenAI to launch web browser in direct challenge to Google Chrome

      10 July 2025

      The satellite broadband operators taking on Starlink

      9 July 2025

      Yaccarino out: Musk’s handpicked CEO quits X suddenly

      9 July 2025

      AI gold rush propels Nvidia to record $4-trillion market cap

      9 July 2025
    • World

      Cupertino vs Brussels: Apple challenges Big Tech crackdown

      7 July 2025

      Grammarly acquires e-mail start-up Superhuman

      1 July 2025

      Apple considers ditching its own AI in Siri overhaul

      1 July 2025

      Jony Ive’s first AI gadget could be … a pen

      30 June 2025

      Bumper orders for Xiaomi’s YU7 SUV heighten threat to Tesla

      27 June 2025
    • In-depth

      Siemens is battling Big Tech for AI supremacy in factories

      24 June 2025

      The algorithm will sing now: why musicians should be worried about AI

      20 June 2025

      Meta bets $72-billion on AI – and investors love it

      17 June 2025

      MultiChoice may unbundle SuperSport from DStv

      12 June 2025

      Grok promised bias-free chat. Then came the edits

      2 June 2025
    • TCS

      TCS | Connecting Saffas – Renier Lombard on The Lekker Network

      7 July 2025

      TechCentral Nexus S0E4: Takealot’s big Post Office jobs plan

      4 July 2025

      TCS | Tech, townships and tenacity: Spar’s plan to win with Spar2U

      3 July 2025

      TCS+ | First Distribution on the latest and greatest cloud technologies

      27 June 2025

      TCS+ | First Distribution on data governance in hybrid cloud environments

      27 June 2025
    • Opinion

      In defence of equity alternatives for BEE

      30 June 2025

      E-commerce in ICT distribution: enabler or disruptor?

      30 June 2025

      South Africa pioneered drone laws a decade ago – now it must catch up

      17 June 2025

      AI and the future of ICT distribution

      16 June 2025

      Singapore soared – why can’t we? Lessons South Africa refuses to learn

      13 June 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Wipro
      • Workday
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Fintech
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Broadcasting and Media » Tencent bails out streaming TV provider iFlix

    Tencent bails out streaming TV provider iFlix

    By Agency Staff25 June 2020
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Naspers affiliate Tencent is buying certain assets of iFlix, a struggling streaming platform with about 25 million users focused in South and Southeast Asia.

    Tencent will acquire iFlix’s content, technology and resources, expanding its geographic reach in a key area of growth. The Chinese company will not take on iFlix’s debt, according to people familiar with the matter, who requested anonymity because they are not authorised to speak publicly about the deal.

    “This is in line with our strategy to expand our international streaming platform, WeTV, across Southeast Asia and provide users with international, local and original high-quality content in a wide range of genres and languages,” Tencent said in an e-mailed statement.

    This is in line with our strategy to expand our international streaming platform, WeTV, across Southeast Asia…

    The Covid-19 pandemic has led to a plunge in advertising, wreaking havoc on the media industry and iFlix. The firm, founded in 2014, now operates in about a dozen South and Southeast Asian countries after exiting markets in the Middle East and Africa. It’s not only competing against global streaming giants such as Netflix, but also Chinese platforms seeking to expand in the region such as iQiyi and Tencent.

    While streaming on the platform doubled during the outbreak, the Kuala Lumpur-based company cut about 50 staff earlier this year. It had to shelve an initial public offering in May, and some of its directors and co-founders have stepped away, one of the people said.

    WeTV

    Tencent will initially run iFlix as an independent brand, but the goal is to merge it with its own WeTV streaming platform, which targets users outside of China, the person said.

    IFlix’s rival, Hooq, also ran into trouble during the pandemic. The company, majority owned by Singapore Telecommunications, filed for liquidation in May.

    Tencent is reportedly interested in acquiring a substantial stake in iQiyi, a rival in the China market. Consolidating ownership of streaming platforms may help Tencent contain the cost of content, which has squeezed margins in the business.  — Reported by Shirley Zhao, Yoolim Lee and Zheping Huang, (c) 2020 Bloomberg LP



    Hoog Iflix Naspers Tencent top
    Subscribe to TechCentral Subscribe to TechCentral
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleGoogle updates privacy settings to delete user data by default
    Next Article MTN Group tops 100 million active data customers

    Related Posts

    Prosus aiming to double revenue in three years

    25 June 2025

    Naspers shifts to an AI-first strategy – and it’s paying off

    23 June 2025

    Prosus profit surges 47% as e-commerce bet pays off

    23 June 2025
    Company News

    Samsung unfolds the future with thinnest, lightest Galaxy Z Fold yet

    9 July 2025

    Huawei supercharges South African SMEs with over 20 new eKit products

    9 July 2025

    Webtonic cracks the talent code with AWS-powered TonicHub

    9 July 2025
    Opinion

    In defence of equity alternatives for BEE

    30 June 2025

    E-commerce in ICT distribution: enabler or disruptor?

    30 June 2025

    South Africa pioneered drone laws a decade ago – now it must catch up

    17 June 2025

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    © 2009 - 2025 NewsCentral Media

    Type above and press Enter to search. Press Esc to cancel.