The Nikkei Review has recently reported that Tencent Holdings has agreed to buy over the ailing streaming service iflix, giving the media giant access to viewers across Southeast Asia and beyond.
Founded in 2014, iflix has over 25 million active subscribers to date across 13 countries in Asia, delivering local content as well as localized (subtitled and dubbed) content to its viewers.
In recent times however, iflix has found itself in a financially distressed position, having burnt through USD25.5 million of cash in 2018 alone through its operations. Earlier in April, two co-founders of iflix, Patrick Grove and Luke Elliot have stepped down to make way for ‘distressed asset specialists’ from Mandala Asset Solutions.
So besides the subscribers, what other intangible assets will Tencent receive with this deal?
While there is no mention of what exactly the deal contains, it is possible that the trademarks owned by iflix will be factored into the valuation. As of today, iflix currently owns 31 active trademark registrations, and 10 pending trademark registrations, across 14 countries. These countries are:
- The Philippines