Out with the old, in with the new: Can Astro keep pace with the tech world?

Welcome to the Opening Bell 🔔! Delivered every Monday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and latest trends on Asia’s publicly listed tech companies. Get it in your email inbox by registering here.

Hello reader,

Technology has the power to render companies obsolete. Devices like pagers, cassette tapes, floppy disks, CDs, and analog modems became relics when new gizmos came along. Once they outlived their usefulness, it wasn’t too long before the companies that made them tanked.

Memorable bankruptcies due to disruptive tech include Blockbuster Inc., Borders Group, and Polaroid Corp.

In the 1980s, Blockbuster Video was at its peak. It had around 84,000 employees and rented out videos at about 9,000 stores. In 2000, Netflix (NFLX, NDAQ) made a US$50 million offer to buy Blockbuster, but its then-CEO John Antioco rejected it outright. Today, Netflix has an enterprise value of US$198 billion while Blockbuster is long gone.

But can one come back from the dead? It’s possible, if what happened to Polaroid is any indication. The company, best known for its instant films and cameras, filed for bankruptcy twice because it didn’t anticipate the digital camera revolution the way Canon (7751, TYO) and Nikon (7731, TYO) did.

Polaroid is now making a comeback, still with its original camera but equipped with improved technology.

Closer to home, OTT platforms have dented Astro’s (ASTRO, KLSE) dominance in Malaysia’s pay TV market in Malaysia. Do check out my colleague Emmanuel’s story on whether Astro can outrun its streaming service competitors.

— Rachel

THE BIG STORY

Image credit: Timmy Loen

How tech destroyed Astro’s dominance in Malaysian pay TV

While Netflix and other streaming platforms can be blamed for the struggles of companies like Astro, there seems to be a shift in consumers’ appetite for pay TV since 2016.

3 Trends to keep an eye on

Hot stocks, earnings reports, restructuring, pressure from activist investors, and more.

2 Eye-popping facts

The one you didn’t see coming