Iflix, also known as WeTV iflix, is a privately owned company headquartered in Malaysia. Founded in 2014, the company has approximately 100 employees and reported $53.1M in revenue as of 2023. Functioning as a tier 2 media tech buyer, Iflix specializes in media and TV services, operating as a free and subscription-based over-the-top (OTT) video-on-demand streaming service originally engineered by Mark Britt and Patrick Grove’s Catcha Group as a hyper-local entertainment alternative specifically targeting mobile-first consumers in emerging global markets across Southeast Asia, South Asia, the Middle East, and Africa. Following monetization and capitalization challenges, the company was acquired by the Chinese multinational technology conglomerate Tencent in June 2020. Operating as a consolidated division within Tencent Video’s regional network, the service utilizes a freemium dual-revenue model supported by premium subscription tiers (iflix VIP) and programmatic in-video digital advertising. Its current platform acts as a digital hosting network focused predominantly on East Asian and regional content, including Chinese mainland dramas, anime, and localized romantic series.
Mark Britt, former CEO, was involved in the founding of two companies. First, a mobile-first digital commerce platform, Flood, was founded by Britt and others. Flood creates marketplaces for businesses in emerging markets. Second, Britt co-founded TMRW, a healthcare brand aiming to reinvent preventative healthcare, with Mat Baxter and Karima Asaad. TMRW launched a brand campaign featuring real customers and appointed Sabina Read as its resident psychologist. A separate news story reported on Britt's personal life, noting the sale of his home.
Iflix offers 2 products in the media and telecoms services industry. Iflix's product portfolio comprises of entertainment content rights and media and TV services.
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Iflix's revenues were less than $100M in 2023. Caretta Research has split Iflix's revenue into 2 different product categories, the largest of which is video streaming. For full access to Iflix's revenue breakdown subscribe to Caretta Portal.
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