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Malaysian video subscription service iflix raises $50 million pre-IPO

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Illustration: Rebecca Zisser/Axios

Iflix, a Malaysia-based streaming video subscription service focused on Southeast Asia and the Middle East, raised over $50 million in what it refers to as pre-IPO funding.

Why it matters: Netflix needs to expand in emerging markets, as its recent subscriber numbers suggest saturation in its core geographies. Iflix, which claims to have nearly doubled active users to 17 million in the past 6 months, presents one of several homegrown hurdles.

Netflix is now losing "Friends" in addition to "The Office"

Warner Media, the content company created when AT&T acquired Time Warner last year, announced Tuesday that it would be calling its new direct-to-consumer subscription streaming service "HBO Max."

Driving the news: It unveiled a new slate of programming that would debut on the service next year, include the entire "Friends" catalog, which had previously been made available on Netflix.