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As an enjoyer of fantasy novels and tabletop roleplaying games, I’ve read and heard many a worldbuilding lore spiel. There will always be the inevitable rise and fall of empires, with this eternal cycle giving rise to heroes and villains who define their respective eras.
Having now been on this plane of existence for just over three decades, I’ve seen similar things play out in real life. For example, Facebook used to be the social media platform. Now, it’s mostly populated by your older relatives, with everyone else having long since left for Instagram or TikTok.
This cycle of dominance and decline appears to also be playing out in Malaysia’s media scene, specifically with long-time incumbent Astro. Find out what’s happening to the media giant in today’s premium article.
Today we look at:
- The steady decline of Astro
- A US$50 million series B round for an Indonesian EV company
- Other newsy highlights such as Traveloka’s positive financials and the US$1.6 million seed round of an Indian B2B firm for interior designers and architects.
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Change is the only constant
Image credit: Timmy Loen
I’ve written about it before in previous newsletters but this year has been one of multiple pivots and trying new things for me. “Change is the only constant” is such a hackneyed phrase but it’s nevertheless true. As individuals, all we can do is try our best to find our place in an ever-changing landscape.
It gets lost in the minutiae of trying to stay afloat each day but this effort slowly but surely builds our skills and gives us new experiences – triumphant or otherwise – to draw inspiration and encouragement from in the years ahead.
Get too comfortable and you’ll get left behind. That appears to be happening to Astro, who until recently enjoyed a 20-year monopoly on Malaysian media.
- No contest: According to an analyst, competition has long been the “antithesis of Astro’s business model.” The media firm had a monopoly on Malaysia’s satellite pay TV industry for two decades.
- Shifting preferences: That empire is crumbling because of the growing popularity of cord cutting among Malaysian consumers, which refers to the act of discontinuing pay TV services in favor of significantly cheaper digital options such as streaming..
- Making an effort: One way Astro is dealing with the shift in consumer demand is by becoming a “super aggregator” that offers access to Netflix, Disney+, and other streaming platforms for a bundled price. The company says this is a cheaper option compared to if a viewer subscribed to these services individually.
Read more: How tech destroyed Astro’s dominance in Malaysian pay TV
Startup names are all just typos
Navigating Singapore’s shifting news horizons: a fireside chat with Tech in Asia’s editorial experts
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