The subscription video-on-demand (SVOD) platform, iflix, targets emerging markets like Southeast Asia, the Middle East, and Africa. They have recently received a new round of funding, 133 million dollars, and plan to use it to develop local content. They face stiff competition in their markets of choice, going up against Netflix and even YouTube in their markets of choice.
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iflix believes that generating local content and targeting a lower income customer base will be the key to grabbing market share. However, they are not alone in these beliefs, or at least not the only one willing to invest in hopes of success. Netflix has already begun releasing original content targeting the India market. Even if iflix sees some future success, will it be enough to build a strong enough foot hold in the market? As competition grows, will consumers now be open to paying for more than one SVOD service? Looking forward to seeing where this goes, especially if it lowers my monthly bills.
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