Indonesia may see a subscription media boom

The country could well see a rapid expansion in subscription-based media [Open this email in your browser]( Indonesia may see a subscription media boom --------------------------------------------------------------- Hello {NAME} We might be spending more than 10 hours on Netflix every week, but that’s not the sole reason why subscription-based businesses are booming in Indonesia. Independent content creators are also cashing in between US$500 to US$5000 every month, thanks to membership platforms like Patreon. You can read the [full article here]( or scroll down for a summary. Your quick bytes for today:  1️⃣ Alibaba growth better than expected The Chinese ecommerce giant [reported a better]( quarterly revenue and profit than estimated, thanks to its cloud-computing revenue that grew by 59% and its commerce business, which jumped 34% in revenue year on year.  2️⃣ Apple hits $2 trillion market cap Apple has become the first US company to reach a [$2 trillion market cap](. This milestone came amid its ongoing lawsuit against Fortnite developer Epic Games and just two years after the company had reached its $1 trillion valuation on August 2, 2018.  3️⃣ Amazon launches Gold Vault Users in India can now make [digital gold investments]( through Amazon Pay, the financial services arm of ecommerce giant Amazon. But it's not the only one providing this service: Other competitors include Paytm, PhonePe, MobiKwik, and Google Pay. Indonesians have also taken a shine to investing in gold through mobile apps, and unicorns Gojek, Bukalapak, and Tokopedia have already [jumped on the trend](.  4️⃣ Swiggy delivery staff on strike The delivery staff of India-based food delivery startup Swiggy [has been on a week-long strike](. Since last Friday, around 5,000 of the company’s personnel have been protesting, claiming that the company had cut their incentives by half.  5️⃣ Alibaba tries to appeal to the US In a bid to escape the US-China political tension that resulted to the ban against TikTok and WeChat in the US, Alibaba CEO Daniel Zhang [said in an earnings call]( that the company’s “primary commercial focus in the US is to support American brands, retailers, small businesses, and farmers.”  6️⃣ Airbnb files for IPO After a long period of speculation, short-term rental startup Airbnb has finally [filed confidentially]( to go public — a surprising move, since its business has been hit hard by the global pandemic and the company had to let go nearly 1,900 employees worldwide in May.  --------------------------------------------------------------- You pay, I pay, we all pay for subscriptions Indonesia may see a boom in subscription-based media in the coming years. - Blowing from the west: Subscription-based media is already thriving in the US. The New York Times saw more revenue generated from its digital subscription business than its advertising unit, and Netflix and Disney+ are experiencing explosive subscription growth. - Local players are stepping up: As more Indonesian content creators profit through the membership platform Patreon, a number of local startups have stepped up to take on the American company. These competitors include Trakteer and KaryaKarsa, both of which were launched in 2019. - Giants circling the country: Other subscription-based media are already eyeing Indonesia’s share of the pie. Disney+ is launching in the archipelago ahead of other Southeast Asian countries, and homegrown unicorn Gojek [launched its video-streaming arm]( GoPlay last year. Deep dive: [Indonesia may see a subscription media boom]( Spread the word: [Facebook]( | [Twitter]( | [Linkedin](  --------------------------------------------------------------- Calculating sales and profits made easy like 1, 2, 3 Bookkeeping solutions are not new. But what’s different about BukuKas, an Indonesia-based digital ledger app, is its focus on serving the smaller guys. The startup recently [raised US$9 million]( to do so. - Founded in 2019, BukuKas’ co-founders, who both had worked for Lazada, built an app to help micro, small, and medium enterprises (MSMEs) monitor their sales, profit, and credit. The platform can even send reminders to customers who had missed their payment due dates via Whatsapp. - Filling in the gap: According to the company, 73% of merchants in Indonesia are outside of Tier 1 cities, and few products and services are specifically built for them. - In just eight months, the company has amassed over 800,000 small merchants and retailers on its platform. It’s currently used in over 700 cities and districts in Indonesia, with more than US$1.3 billion in annualized value of transactions. - Other players in the game are Indonesian debt management app [Credibook]( and accounting app [BukuWarung]( both of which also target SMEs, and Indian digital ledger [Khatabook]( that supports small family-owned shops in its country.  --------------------------------------------------------------- Startup feature from the community Dear founder Gil, thanks for your submission. Your company is our featured startup of the week. - Elevator pitch: [iMotorbike]( is a one-stop shop that aims to add ease of use, clarity, transparency, and trust to all motorcycle- related services, as well as provide ready-to-go solutions to all its customers. - Story: Gil Carmo had observed how dated the motorbike industry is compared to other verticals, such as cars and real estate. Being a petrol head who is passionate about online business, he decided to build his own solution. - How many years in operation: Almost 4 years - Number of customers: Over 400,000 listings with more than 4,000 dealers - Sales: More than $30 million of gross market value in transactions - Opportunity: Motorcycle-dominant markets will remain strong even with the increased production and use of electric motorcycles - Challenges: The digital education of the industry Want the spotlight on your startup too? Give your own company a [shout-out here](.  --------------------------------------------------------------- Misc Happening - [Tech in Asia Virtual Conference]( from October 19 to 22. In our biggest annual event, we gather founders, decision-makers, and venture capitalists in one place so that you can get all the information and make the connections you need. Hiring - [Senior Product Manager]( at Homage (Singapore, Singapore) - [Product Manager]( at Yojee (Ho Chi Minh City, Vietnam) - [Accounting & Finance]( at Tunaiku (Jakarta, Indonesia)  --------------------------------------------------------------- Before you go on your Happy Hour, share this email with your friends to make their TGIF conversations a little cooler. And if you have any comments about our newsletter, hit us up [here](. Tech in Asia’s newsletters are handcrafted daily with love ❤️ - and sometimes powered by good coffee ☕. Today’s edition is written by Betty Chum, with contributions from Rizqi Maulana, Terence Lee, and Doris Yu. It’s edited by September Grace Mahino. To ensure that you 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. Copyright © 2020 Tech in Asia, All rights reserved. Don't want to receive these emails anymore? [Unsubscribe](.