Worldwide Netflix has more SVOD subscribers than anyone, but in Asia, they are dwarfed by the rapidly rising iFlix, which continues to innovate faster than its competitors.
iFlix has over 15 million subscribers (0:30)
Just two months ago, iFlix announced it had over 15 million subscribers. It has grown more than 250% from the previous year, with half of 2018 yet to come.
IFlix’ innovations (0:59)
Most recently, iFlix has started funding new original programming with the storytelling app Wattpad. Wattpad uses machine learning to determine the most popular stories that its users submit. iFlix plans to make some of these top stories into television shows or films targeted to the specific country or region.
Netflix requires users to stream at a rate of 2 – 4 Mbps while iFlix averages about 650 kbps. Such a low bandwidth requirement allows iFlix users to stream on a 3G connection, while Netflix requires a much higher bandwidth connection.
IFlix has also boasted much lower prices than its competitors. Netflix charges roughly $8/month, while iFlix charges $3 to $5 per month.
iFlix Free (2:00)
IFlix has taken lower prices to a new level with its iFlix Free feature. Users can watch original shows, a movie a day, and other content for free, all supported by pre-roll ads (ads that play before the video starts.)
Adding live streaming sports (2:30)
One of the biggest additions to the video streaming service has been the addition of sports from the top world leagues. For example, iFlix reached an agreement with the English Premier League to live stream games in Cambodia.
With so many new features, iFlix has outgrown its SVOD roots. The addition of AVOD and Live streaming sports are distancing iFlix from its original business model. However, the company is gearing up to take on a different competitor.
iFlix is competing with piracy (3:16)
Netflix is not the number one competitor of iFlix; piracy is.
The biggest reason why iFlix continues to innovate and adapt is that it must compete with stolen content. Giving the users a good experience while also keeping the price as low as possible is paramount. So far, the approach seems to be working, but long-term profitability remains an open question.
One thing is for certain; iFlix has a lock on being one of the largest video streaming services in Asia for some time to come.