Vidio banks on local content in Indonesia’s video-on-demand battle

More: Akulaku secures US$100 million in debt financing from HSBC Singapore. [Read from your browser]( Daily Newsletter Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](.  --------------------------------------------------------------- IN FOCUS In today's newsletter, we spotlight: - [For Vidio, the path to profit is local]( - J&T Global Express hits profitability shortly after going public - Other newsy highlights such as HSBC Singapore providing a finance injection for Akulaku --------------------------------------------------------------- Hello {NAME} One of my New Year’s resolutions for 2024 is to read two books a month, and I’m on track so far. I wish I could say the success so far is because I’ve become very disciplined, but the truth is much simpler. I moved into a new apartment early this year, and it doesn’t have a smart TV, so I’ve spent a lot less time watching TV shows and movies than last year. It would amaze you how much less appeal Netflix has when you have to watch it on a tiny laptop instead of a big screen. Turns out, convenience is a big factor for me when it comes to streaming. For Indonesian viewers, it seems like having access to local content is a big draw. At least, that’s what Vidio is betting on. The video-on-demand player reckons that a focus on local shows will help it beat out international competitors - and eventually reach profitability. -- Peter  ---------------------------------------------------------------  THE BIG STORY [Despite losses, Emtek’s Vidio banks on local content to win Indonesian streaming crown]( Indonesia has the highest CAGR for subscription-based VOD services among APAC countries, but it faces stiff competition from global players. --------------------------------------------------------------- TRENDING NEWS [J&T zooms to positive EBITDA one quarter after IPO]( The logistics giant’s China business also became profitable for the first time since entering the market in 2020. [HSBC Singapore injects up to $100m debt financing into Akulaku]( The funds will be used to pay off some of Akulaku’s current debts, according to Reuters. --------------------------------------------------------------- TECH IN ASIA CONFERENCE 2024 Experience the pinnacle of Southeast Asian tech Tech in Asia Conference is making its Malaysia debut this July. Set in Kuala Lumpur from July 24 to 25, our flagship event will be packed with compelling panel discussions, insightful skill-building workshops, and exclusive interviews with established and emerging brands across various industries. There will also be a dedicated exhibition segment showcasing Southeast Asia’s rising startups as well as curated networking opportunities for founders and investors. Of course, a TIA Conference is never complete without our signature Startup Arena pitch battle, where the region’s best and brightest take center stage and vie for exciting prizes. Tickets are now on sale, with prices starting from just US$45 instead of the usual US$80 for a General Pass. [Secure your tickets now before it’s too late]( ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Weekly funding: Pocket FM leads with $100m raise]( Keep track of all the startup investment activities in Asia through our weekly funding list. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this]( page](. 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Join a selected group of global industry leaders for a behind the scenes look into the art of gin-making while exchanging business insights. [Apply for your invite here.]( ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Project Manager (Creative Service)]( at Boleh Dicoba Digital Bandung, Java, Indonesia - [Social Media Strategist]( at MIFX Indonesia Jakarta, Indonesia - [Mandarin Translator]( at PT Allo Bank Indonesia Tbk Jakarta, Indonesia - [Bob Junior - UX Researcher Intern]( at Bobobox Indonesia Bandung, Java, Indonesia - [Brand Intern [Mama's Choice]]( at Scout.inc Jakarta, Indonesia - [Fullstack Engineer]( at Indocyber Global Teknologi Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. 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