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Hello readers,
My family’s biggest flex this year: My grandma is now on Facebook and my dad hogs the smart television to watch Netflix videos. Digital content platforms are certainly on a roll this year. For instance, MX Player, India’s most viewed video-streaming platform, posted a 400% month-on-month growth in revenue. And now, the Tencent-backed startup is raising US$200 million to expand in new markets and go up against Disney’s Hotstar.
Today, we look at:
- India’s leading video-streaming platform just keeps growing
- The Viki mafia in Southeast Asia
- Other newsy highlights such as WhatsApp’s new payment features and a TikTok competitor’s IPO bid.
PREMIUM SUMMARY
A lot of people are watching
MX Player has been hustling: In September, the platform scored its highest monthly earnings. The company plans to use the US$200 million in fresh funds to boost its monthly active users to 500 million.
- New phone, who dis? MX Player belongs to Times Internet, India’s largest media conglomerate. It’s also backed by Chinese tech titan Tencent and could be the secret weapon the firm needs to win the global content war against Netflix and Disney.
- Sit back and potate: According to Comscore data, MX Player has 139.6 million unique viewers. This makes it the leading video-streaming platform in India, ahead of Disney+ Hotstar’s 107 million.
- Beyond India: MX Player aims to expand in markets that it had just entered, such as the United Arab Emirates and Sri Lanka. Earlier this year, the company also set up shop in the US, UK, Canada, Australia, New Zealand, Bangladesh, and Nepal.
Read more: India’s most viewed local video app is raising $200m, sees 400% growth
NEWS SPOTLIGHT
Southeast Asia’s new mafia
Everyone wants a piece of Singapore
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