‘Artemis Fowl’ is skipping theaters for Disney+

With movie theaters largely closed due to the COVID-19 pandemic, Disney is pushing back its slate of upcoming films. And at least one movie won’t be making it into theaters at all, with “Artemis Fowl” heading straight to streaming instead.

The company announced today that that the film will debut exclusively on Disney+, and that the release date will be revealed soon.

All of the Hollywood studios are scrambling to adapt to the theatrical closures. NBCUniversal broke the theatrical window by releasing “The Hunt,” “The Invisible Man” and “Emma” as streaming rentals while they were ostensibly still in theaters, and it will release “Trolls World Tour” digitally on April 10 — the same day as its official theatrical release.

Other studios followed suit. There were also reports that Paramount struck a deal to debut the Kumail Nanjiani/Issa Rae comedy “The Lovebirds” on Netflix instead of in theaters, but there’s been no announcement or release date yet.

Disney, meanwhile, already brought “Frozen 2” to Disney+ early, then took more aggressive steps for the Pixar film “Onward,” which went on-sale digitally just a few weeks after its release in theaters, and is launching on Disney+ today.

Directed by Kenneth Branagh, “Artemis Fowl” tells the story of a young criminal mastermind of the same name, and it’s based on a series of young adult fantasy novels by Eoin Colfer. It was originally scheduled for release on August 9, 2019, before being delayed until May 29 of this year.

So why not delay it again, as Disney is doing with other films? It may simply be less of a sure bet in theaters than “Mulan,” “Black Widow” or even “Jungle Cruise.”

“Director Kenneth Branagh and his spectacular cast take viewers right into the vibrant, fantasy world of the beloved book, which fans have been waiting to see brought to life onscreen for years,” said Disney+ President of Content and Marketing Ricky Strauss. “It’s great family entertainment that is the perfect addition to Disney+’s summer lineup.”

Disney debuts its streaming service in India for $20 a year

Disney+ has arrived in the land of Bollywood. The company on Friday (local time) rolled out its eponymous streaming service in India through Hotstar, a popular on-demand video streamer it picked up as part of the Fox deal.

To court users in India, the largest open entertainment market in Asia, Disney is charging users 1,499 Indian rupees (about $19.5) for a year, the most affordable plan in any of the more than a dozen markets where Disney+ is currently available.

Subscribers of the revamped streaming service, now called Disney+ Hotstar, will get access to Disney Originals in English as well as several local languages, live sporting events, dozens of TV channels, and thousands of movies and shows, including some sourced from HBO, Showtime, ABC and Fox that maintain syndication partnerships with the Indian streaming service. It also maintains partnership with Hooq — at least for now.

Unlike Disney+’s offering in the U.S. and other markets, in India, the service does not support 4K and streams content at nearly a tenth of their bitrate.

Disney+ Hotstar is also offering a cheaper yearly premium tier, priced at Rs 399 (about $5.3), that will offer subscribers access to movies, shows (but not those sourced from aforementioned U.S. networks and studios) and live sporting events; it won’t include Disney Originals.

Access to streaming of sporting events, especially of cricket matches, has helped five-year-old Hotstar become the most popular on-demand video streaming in India. During the cricket tournament Indian Premier League (IPL) last year, the service amassed more than 300 million monthly active users and more than 100 million daily active users.

It also holds the global record for most simultaneous views on a live stream, about 25 million — more than thrice its nearest competitor.

Prior to today’s launch, Hotstar offered its premium plans at 999 Indian rupees, and 365 Indian rupees. Existing subscribers won’t be affected by the price revision for the duration of their current subscription.

The service, run by Indian conglomerate Star India, offers access to about 80% of its catalog at no cost to users. The company monetizes these viewers through ads.

But in recent years, the company has begun to explore ways to turn its users into subscribers. Two years ago, Hotstar stopped offering cricket match streaming to non-paying users.

People familiar with the matter told TechCrunch that Hotstar has about 1.5 million paying subscribers, lower than what most industry firms estimate. But that figure is still higher than most of its competitors.

And there are many.

India’s on-demand video market

Disney+ will compete with more than three dozen international and local players in India, including Netflix, Amazon Prime Video, Times Internet’s MX Player (which has over 175 million monthly active users), Zee5, Apple TV+ and Alt Balaji, which has amassed over 27 million subscribers.

“The arrival of Disney+ in India is another case study in the globalization of entertainment in the digital era. For decades, the biggest companies in the world have expanded their reach into different markets. But it’s new, and actually quite profound, that everyone on earth receives the very same version of such a specific cultural product,” Matthew Ball, former head of strategic planning for Amazon Studios, told TechCrunch.

As in some other markets, including the U.S., streaming services have inked deals with telecom networks, TV vendors, cable TV operators and satellite TV players to extend their reach in India.

Most of these streaming services monetize their viewers by selling ads, and those who do charge have kept their premium plans below $3.

Why that figure? That’s the number most industry executives think — by spending years in the Indian market — that people in the country are willing to pay for viewing content. The average of how much an individual pays for cable TV, for instance, in India is also about $3.

“I think everyone is still trying to sort out the right pricing. It’s true the average Indian consumer is used to far lower prices and can’t afford more. However, we need to focus on the consumers likely to buy this, who have the requisite broadband access and income, etc,” said Ball.

Commuters drive along a road past a billboard in Mumbai advertising the Amazon Prime Video online series “The Forgotten Army”. (Photo by INDRANIL MUKHERJEE / AFP via Getty Images)

At stake is India’s booming on-demand video streaming market that, according to Boston Consulting Group, is estimated to grow to $5 billion from half a billion two years ago.

Hotstar’s hold on India could make it easier for Disney+, which has launched in more than a dozen markets and has amassed over 28 million subscribers.

As the country spends about two more weeks in lockdown that New Delhi ordered last month to curtail the spread of coronavirus, this could also compel many to give Disney+ a try.

On the flip side, if the lockdown is extended, the current season of IPL, which has been postponed until mid-April, might be further delayed or cancelled altogether. Either of those scenarios could hurt the reach of Hotstar, which sees a massive drop in its user base after the conclusion of each cricket tournament.

Disney initially planned to launch its streaming service in India on March 28, the day IPL was supposed to commence. But the company later postponed the launch by six days.

Industry executives told TechCrunch that if IPL is cancelled, it could severely hurt the financials of Hotstar, which clocks more than 50% of its revenue during the 50-odd days of the cricket season.

Some said Disney+’s premier catalog might not be relevant for most of Hotstar’s user base, who seem to care about this streaming service only during the cricket season or to catch up on Indian soap operas.

Hotstar has also received criticism for censoring more content on its platform than any other streaming service in India. Last month, Hotstar blocked from streaming on its platform an episode of “Last Week Tonight with John Oliver” that was critical of Indian Prime Minister Narendra Modi. YouTube made that segment available without any edits.

John Oliver slammed Hotstar for censoring the episode and noted that the streaming service had additionally edited out parts from his older episodes where he made fun of Disney. In 2017, Hotstar also edited out a segment from Oliver’s show in which he mocked Samsung for the Galaxy Note 7 fiasco. Hotstar and Samsung had a commercial partnership.

Hotstar did not respond to multiple requests for comment in 2017. Hotstar did not respond to multiple requests for comment on the recent controversy.

Disney+ beat Netflix in recent US downloads (report)

Netflix may still dominate global streaming, but Disney+ has made a huge splash in the United States, where it launched in November.

That much was pretty clear already, and other reports have already suggested that Disney+ was the most downloaded app and biggest search trend in the United States last year. Now a new report from mobile intelligence company Apptopia and competitive engagement platform Braze suggests that Disney’s streaming service has continued its spectacular success into 2020.

The report examines the months leading up to and after the service’s U.S. launch, and it includes charts of the most popular streaming apps for the first three months of 2020.

According to those charts, Netflix was the most downloaded streaming app globally, with 59.1 million downloads, followed by YouTube at 39.4 million. Disney+ (which is currently launching across Europe and India) was number seven on the list, with 17.5 million downloads.

In the United States however, Disney+ leads with 14.1 million downloads, versus 11.9 million for Netflix (which may have already saturated the U.S. market) and 8.1 million for Hulu (which is also owned primarily by Disney).

Lest you think this is purely a one-on-one contest between Netflix and Disney, it’s also worth noting that neither of them wins on time spent in app — instead, it’s YouTube Kids that wins in both the United States and globally.

Apptopia/Braze report

Image Credits: Apptopia and Braze

And yes, the COVID-19 pandemic is leading to even more streaming, with the report showing 30.7 percent increase in streaming sessions in March

The report suggests that the success of Disney+ means that there’s still room for new streaming services. (It might, however, simply reflect Disney’s dominance of the entertainment world. It remains to be seen whether Quibi, NBCUniversal’s Peacock and WarnerMedia’s HBO Max can achieve similar success as they launch in the coming months.)

The report also looks at strategies that successfully drive engagement, as measured by daily active users. It points out that the most popular brands are 21 percent more likely to send push notifications and 300 percent more likely to send in-app messages. It also concludes that “content that creates fandom is king”:

Adult Swim’s cartoon series Rick and Morty proved to be the most effective content for generating both short-term and long-term monthly active users (MAU). Over the course of the most recent season of Rick and Morty, the Adult Swim app’s daily active users (DAU) increased by 504%. Amazon Prime Video’s The Marvelous Mrs. Maisel, HBO’s Game of Thrones, and sporting events also drove DAU growth in a meaningful way.

 

Original Content podcast: ‘Star Trek: Picard’ launches with a bumpy, memorable season

Star Trek TV shows generally take a while to get good — but if any of them was going to have a strong start, you’d think it’d be “Star Trek: Picard.”

After all, it returns Patrick Stewart to the role that made him famous, that of onetime Starfleet captain Jean-Luc Picard. Plus, the writing team was led by Michael Chabon, author of beloved novels like “The Amazing Adventures of Kavalier & Clay” and “The Yiddish Policemen’s Union.” (He also wrote a lovely New Yorker piece about writing for Star Trek while his father was dying.)

As we discuss on the latest episode of the Original Content podcast, the resulting show doesn’t quite avoid the standard first season growing pains, with a fast-paced pilot followed by several slow, setup- and exposition-heavy episodes. Throughout the season, the writers still seem to be figuring out what kind of show they want to be making, and it all ends with some preposterous, clunky twists in the two-part finale.

But even if “Picard” didn’t quite live up to our expectations, it’s still a pretty first season. It was genuinely moving to see Stewart on the bridge of a spaceship again, and to greet returning friends like Brent Spiner as Data (who died in the movie “Nemesis” but appears here in an opening dream sequence), as well as Jonathan Frakes as William Riker.

And despite its occasional clunkiness, the story finds new emotional notes for Picard, as he struggles to overcome decades of disillusionment and become the Picard we know. There’s also fresh science fictional territory, as “Picard” treats artificial intelligence and synthetic life more seriously than any previous Star Trek show.

You can listen to our review in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also send us feedback directly. (Or suggest shows and movies for us to review!)

And if you’d like to skip ahead, here’s how the episode breaks down:
0:00 Intro
0:19 “Star Trek: Picard” season 1 review
24:28 “Star Trek: Picard” spoiler discussion

‘Content network effect’ makes TikTok tough to copy

Many TikTok videos don’t start from scratch, so neither can its competitors. TikTok is all about remixes where users shoot a new video to recontextualize audio pulled from someone else’s clip, or riff on an existing meme or concept. That only works because TikTok’s had time to build up an immense armory of content to draw inspiration from.

Creators will find themselves unequipped trying to get started on TikTok copycats including Facebook Lasso, and Instagram Reels which is testing in Brazil. Direct competitors like Triller and Dubsmash are racing to build up their archives. YouTube Shorts, which The Information today reported is in development, only has a shot if Google lets users harness the 5 billion videos people already watch on YouTube each day.

This is the power of what I call “content network effect”: Each piece of content adds value to the rest. That’s TikTok.

You’re likely familiar with traditional network effect — ‘a phenomenon whereby a product or service gains additional value as more people use it.’ It’s not just the network itself that gains value, as the value delivered to each user increases too. Today’s top social networks are shining examples. The more people there are on Facebook, Instagram, or Twitter, the more people you can connect to, and the more material their relevance algorithms can draw on to fill your feeds.

If you had to choose between using two identical social networks, you’re probably going to pick the one with more friends or creators already onboard. Network effects raise the switching cost of moving to a different network. Even if it has better features, fewer ads, or less misinformation and bullying, you’re unlikely to leave a robust network behind and decamp to a sparser one. That makes scaled social networks difficult to Disrupt. All the top ones have been around for almost a decade or more.

Except for TikTok. The Chinese music/video app has managed to demonstrate a new concept of “content network effect”. In its case, each video uploaded to the app makes every future potential video more valuable. That’s because all the content on TikTok serves as remix fodder for the rest. Every song, dance, joke, prank, and monologue generates resources for other creators to exploit. It’s a bottomless well of inspiration.

Remixability, the ultimate creative tool

TikTok productizes remix culture by making it easy to “use this sound”. Tap the audio button on any video and it becomes yours. Click through and you’ll see all the other videos that use it. TikTok even offers a whole search engine for sorting through sounds by categories like Trending, Greatest Hits, Love, Gaming, and travel. Sometimes remixes are based on an idea rather than an audio. #FlipTheSwitch sees couples instantly swapping clothes when the light flicks off, and has collected over 3.6 billion videos across over 500,000 remixed versions of the video.

You can even duet with the original creator, sharing your video and theirs side-by-side simultaneously. A solo performance becomes a chorus as more duets are hitched together. Meanwhile, remixes of remixes of remixes provide an esoteric reward for hardcore users who recognize how a gag has evolved or spiraled into absurdity.

Other apps in the past have spawned video responses, hashtags, quote-tweets, surveys, and chain letters and other ways for pieces of content to interact or iterate. And there’s always been parodies. But TikTok proves the power of forging a social app with content network effect at its core.

Facilitating remixes offers a way to lower the bar for producing user generated content. You’d don’t have to be astoundingly creative or original to make something entertaining. Each individual’s life experiences inform their perspective that could let them interpret an idea in a new way.

What began with someone ripping audio of two people chanting “don’t be Suspicious, don’t be suspicious” while sneaking through a graveyard in TV show Parks & Recs led to people lipsyncing it while trying to escape their infant’s room without waking them up, leaving the house wearing clothes they stole from their sister’s closet, trying to keep a llama as a pet, and photoshopping themselves to look taller. Unless someone’s already done the work to record an audio clip, there’s nothing to inspire and enable others to put their spin on it.

TikTok’s archive vs the world

That’s why I wrote that Mark Zuckerberg misunderstands the huge threat of TikTok after the CEO told Facebook’s staff that “I kind of think about TikTok as if it were Explore for Stories”. Facebook and Instagram found massive success cloning Snapchat Stories because all they had to do was copy its features. Stories are autobiographical life vlogging. All you need are the creative tools, which Instagram and Facebook rebuilt, and people to share to, which the apps had billions of.

But TikTok isn’t about sharing what you’re up to like Stories that typically start from scratch since each user’s life is different. It’s micro-entertainment powered by content network effect. If TikTok competitors give people the same video recording features and distribution potential, they’ll still be missing the archive of source material.

Facebook’s Lasso looks just like TikTok but it’s failed to gain steam since launching in November 2018. Instagram Reels smartly copies TikTok’s remixing tools, but if the Brazilian tests go well and it eventually launches in English, it will start out flat footed.

When YouTube launches Shorts, as The Information’s Alex Heath and Jessica Toonkel report it’s planning to do before the end of the year, it will be buried inside its main app. That could make it impossible to compete with a dedicated app like TikTok that opens straight to its For You page. Its one saving grace would be if YouTube unlocks its entire database of videos for remixing.

Thanks to its position as the default place to host videos and its experience with searchability that Facebook and Instagram lack, YouTube Shorts could at least have all the ingredients necessary. But given YouTube’s non-stop failures in social with everything from Google+ to YouTube Stories to its dozen deadpooled messaging apps, it may not have the chef skills necessary to combine them.

Other social networks should consider how the concept applies to them. Could Facebook turn your friends’ photos into collage materials? Could Instagram let you share themed collections of your favorite posts? Remix culture isn’t going away, so neither will the value of fostering content network effects. With video consumption outpacing professional production, remixes are how the world will stay entertained and how amateurs can contribute creations worthy of going viral.

In a significant change, Apple customers can now buy or rent titles directly in the Prime Video app

A recent update from Amazon has made it easier for Apple customers to buy or rent movies from its Prime Video app. Before, customers using the Prime Video app from an iOS device or Apple TV would have to first purchase or rent the movie elsewhere — like through the Amazon website or a Prime Video app on another device, such as the Fire TV, Roku or an Android device. Now, Prime Video users can make the purchase directly through the app instead.

The changes weren’t formally announced, but quickly spotted once live.

Amazon declined to comment, but confirmed to TechCrunch the feature is live now for customers in the U.S., U.K. and Germany.

The change makes it possible for Prime Video users to rent or buy hundreds of thousands of titles from Amazon’s video catalog. This includes new release movies, TV shows, classic movies, award-winning series, Oscar-nominated films and more.

This is supported on a majority of Apple devices, including the iPhone, iPad and iPod touch running iOS/iPadOS 12.2 or higher, as well as Apple TV HD and Apple TV 4K.

Amazon for years has prevented users from directly purchasing movies and TV shows from the Prime Video app on Apple devices. That’s because Apple requires a 30% cut of all in-app purchases taking place on its platform. To avoid fees, many apps — including not only Amazon, but also Netflix, Tinder, Spotify and others — have bypassed the major app platforms’ fees at times by redirecting users to a website.

Since the news broke, many have questioned if Amazon had some sort of deal with Apple that was making the change possible — especially because it didn’t raise the cost of rentals or subscriptions to cover a 30% cut.

As it turns out, it sort of does.

Apple tells TechCrunch it offers a program aimed at supporting subscription video entertainment providers.

“Apple has an established program for premium subscription video entertainment providers to offer a variety of customer benefits — including integration with the Apple TV app, AirPlay 2 support, tvOS apps, universal search, Siri support and, where applicable, single or zero sign-on,” an Apple spokesperson said. “On qualifying premium video entertainment apps such as Prime Video, Altice One and Canal+, customers have the option to buy or rent movies and TV shows using the payment method tied to their existing video subscription,” the spokesperson noted.

It remains to be seen if Amazon will extend Apple the same courtesy on its Fire TV platform, by allowing Apple customers to rent or buy movies directly in the Apple TV app there.

Amazon’s adoption of this program is notable, as it comes at a time when Apple is under increased scrutiny for alleged anti-competitive behaviors — particularly those against companies with a rival product or service — like Prime Video is to Apple TV+, or Fire TV is to Apple TV, for example.

Amazon called attention to the new feature in its Prime Video app, which now alerts you upon first launch that “Movie night just got better” in a full-screen pop-up. It also advertises the easier option for direct purchases through a home screen banner.

Wide Open School organizes free educational resources to help parents and teachers homeschool

Nearly 300 million kids are missing school worldwide because of the coronavirus outbreak, including some 54 million in the U.S. alone. That’s left parents scrambling for resources to help continue their children’s education, often while also working from home themselves — an almost insurmountable challenge. Today, the non-profit media organization Common Sense is launching a site to help parents called Wide Open School (WideOpenSchool.org), which combines the best educational resources for publishers, nonprofits, and education companies in one place.

At launch, this free resource includes content from the American Federation of Teachers, Amplify, Boys & Girls Clubs of America, Head Start, Khan Academy, National Geographic, Noggin, PBS, Scholastic, Sesame Workshop, Time for Kids, XQ Institute, and even YouTube.

All the content offered through Wide Open School is freely available.

But it’s not just a list of helpful websites. Instead, Wide Open School actually programs a full school day for the child by grade level, to ensure they’re getting a mix of educational material that aligns with what their day would have been when attending school.

For example, a 4th grader may be pointed to Prodigy’s math games, YouTube art tutorials, and Khan Academy reading resources in the morning, then instructed to read a book, draw, or listen to music during their screen-free lunch break. In the afternoon, they may take social studies via Google Earth, study science through Amplify, and take P.E. by way of GoNoodle.

The site even suggests evening activities that can be done as a family, like bedtime reading or movies to stream, among other things.

In addition, Wide Open School offers a guide to getting started with learning at home, a collection of virtual field trips, a collection with resources for art and music, and one with resources for emotional well-being — the latter especially critical at a time when anxiety levels are high among parents and kids alike.

There’s also a section dedicated to parents of children with special needs

Everything is organized in a colorful grid with picture images so it can be easily used by children on their own.

For struggling parents new to homeschooling, a resource like this will likely be welcome.

However, Common Sense is opening up the tools to educators, as well. Though many U.S. school systems already offer their students a set of digital resources through direct relationships with educational companies, like Nat Geo or Scholastic, those resources were typically meant to supplement the education the child was receiving at school, not replace it. There may still be large holes in the child’s education that aren’t being addressed.

Common Sense says on the new Wide Open School website has been curated for educational quality.

This taps into the organization’s key strength, as its focus has always been on promoting safe technology and media for children. Today, its main website is known for its trusted reviews of TV, movies, books, games, and apps that help parents understand a given piece of content’s age-appropriateness, as well as concerns with the title in question, if any.

To create the new Wide Open School, Common Sense was able to tap into its existing understanding of the educational media available for families, and then organize it by grade level.

Common Sense says it also worked with key distribution and technology partners Apple, Google, Zoom, Comcast, Salesforce, and Zoom, which have also suggested tools and resources, to ensure they’re aware of and can access the content.

“The coronavirus pandemic has elevated the need for quality learning materials all in one place for families and educators, and Common Sense is proud that trusted experts and partners have joined together to launch Wide Open School so quickly,” said James P. Steyer, CEO and founder of Common Sense, in a statement about the launch.

“Many organizations have moved swiftly to respond to this crisis with incredible resources and special offers for educators and families. We wanted to use our nearly 20 years of experience as an expert reviewer and curator to create the go-to source of quality content that will provide educators with the support they need to shift to remote teaching and a one-stop, trusted place for families to engage kids who are now learning from home,” he added.

Though many U.S. schools are moving towards remote learning, some aren’t yet ready or fully rolled out. And even those schools that have shifted online aren’t necessarily programming the equivalent of a full school day for the students. That can be difficult for parents working from home, as kids complete their more limited educational activities, then look to be entertained. Left on their own, that’s meant full days of gaming or binging YouTube — much to the exacerbation of parents who don’t consider coronavirus cancellations just an early start to summer break.

Wide Open School can supplement whatever remote learning is taking place, as well, or can be used by teachers who are creating online lessons for the first time.

The new website launched publicly today, but is still considered a beta — meaning it’s not the final product.

Common Sense is still working to expand the site and is forging additional educational partnerships with media and education companies, nonprofits, and teachers, in order to add more content, it says.

The site will be available across platforms, including mobile, desktop and TV, in order to allow everyone — even low-income families — to access its resources.

It’s working to add other resources to aid low-income families as well, including information about accessing free or discounted broadband services, as well as resources for more urgent needs to address health, hunger, shelter, and psychological needs.

Original Content podcast: ‘Tiger King’ might be the wildest show on Netflix

Netflix’s “Tiger King” is a docuseries focusing on the man who calls himself Joe Exotic — owner of a private park full of tigers and other big cats. We learn in the opening minutes of the first episode that he’s been accused of hiring a contract killer to murder an animal rights activist.

A documentary that was solely about Joe would be pretty memorable on its own, but he’s surrounded by characters who are nearly as colorful, including the operators of several other big cat parks, as well as his nemesis, Carole Baskin.

On the latest episode of the Original Content podcast, we’re joined by Jason from the TechCrunch events team to review “Tiger King.” It’s an incredibly addictive and bingeable show, with shocks and twists in virtually every episode.

At the same time, we debate whether the show treats its colorful subjects ethically, and whether anything was lost as the focus shifted from a “Blackfish”-style exposé of large cat owners into something more lurid.

You can listen in the player below, subscribe using Apple Podcasts or find us in your podcast player of choice. If you like the show, please let us know by leaving a review on Apple. You can also send us feedback directly. (Or suggest shows and movies for us to review!)

And if you’d like to skip ahead, here’s how the episode breaks down:
0:00 Intro
0:29 “Tiger King” review
24:56 “Tiger King” spoilers

Streaming service Hooq files for liquidation

On-demand video streaming service Hooq said on Friday it has filed for liquidation after it failed to grow rapidly and cover its increasing operating costs.

Hooq Digital, a joint venture between Singapore telecom group Singtel (majority owner), Sony Pictures, and Warner Bros Entertainment, said the company sailed through “significant structural changes” in the on-demand video streaming market for five years but is now struggling to provide sustainable returns to investors.

“Global and local content providers are increasingly going direct, the cost of content remains high, and emerging-market consumers’ willingness to pay has increased only gradually amid an increasing array of choices,” a Hooq spokesperson said in a statement.

The Singapore-headquartered firm will hold a meeting with its shareholders and creditors on April 13. In an exchange filing, Singtel said Hooq’s liquidation won’t have any material impact on its business.

HOOQ has amassed 80 million users in India, Indonesia, Thailand, Singapore, and the Philippines. The company counted India, where it entered into a partnership with Disney’s Hotstar in 2018, as its biggest market. The company also maintains a partnership with ride-hailing giant Grab to supply content in its cab.

More to follow…

The future of collectibles is digital

The estimated size of the global collectibles market is $370 billion.

People have an innate propensity to collect, which drives purchases of collectible goods like art, games, sports memorabilia, toys and more. But given that the world is rapidly adopting digital each day, how likely is it that this market can continue to grow as is?

Won’t this primarily physical market have little choice but to evolve with the times?

With an increase in digital adoption, a step-function innovation is emerging; digital collectibles. The new medium is gaining in popularity and its influence is spreading relatively quickly.

The potential impact on the cryptocurrency landscape, while seemingly unrelated, is quite profound. Businesses already present in the collectibles market have new offerings, demographics and economic impacts to take into account. Even household brands are acknowledging their significance and building strategies around them.

Image by Christian Braun via hobbyDB

Digital collectibles have taken a foothold and are well on their way to increase their presence in our daily lives.

What is a digital collectible?