THE Philippine Long Distance Telephone Co. (PLDT) group of companies is keen to broaden its partnership with internet TV service provider iFlix, PLDT Chairman Manuel Pangilinan said.
iFlix, which is expanding in Southeast Asia, is proposing yet another partnership with the Philippine telco, Pangilinan told reporters at a launch event in Makati on Monday.
“I think they [iFlix] are going to ask for more funding,” Pangilinan said.
Pangilinan said PLDT will most likely invest further in the internet TV provider, saying that iFlix is among PLDT’s most lucrative investments, considering that 70 percent of Smart subscribers access content off the internet. Smart is PLDT’s mobile communications arm.
“I think we will invest [in iFlix],” Pangilinan said.
He said PLDT will invest in iFlix through a capital fund and that the investment will be of a financial sort.
“Hind na siguro PLDT [Maybe not PLDT itself]. We’ll organize a group, a capital fund that will take care of this,” he said.
On Monday, Smart and iFlix launched a holiday package that allows all Smart, Sun and TNT subscribers to access a three-month iflix subscription bundled with their existing service (valued at P387), sponsored by Smart at no additional charge.
PLDT Home subscribers will enjoy 12months of iflix (valued at P1,584) at no additional charge, for all DSL, Fibr, uLTEra, or Telpad plans.
Earlier this year PLDT invested $15 million in iFlix. The investment was in line with its strategy to develop new revenue streams and to complement its present business by participating in the digital world beyond providing access and connectivity.