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Verizon is buying B2B videoconferencing firm BlueJeans
US carrier Verizon* has splashed out to buy veteran B2B videoconferencing platform, BlueJeans Network — shelling out less than $500 million on the acquisition, according to the Wall Street Journal which first reported the news.
A Verizon spokeswoman confirmed to TechCrunch that the price-tag is sub-$500M but did not provide a more exact figure. Videoconferencing platform Blue Jeans has raised ~$175M since being founded around a decade ago, per Crunchbase, with US investor NEA leading a Series E round back in 2015.
In a press release announcing the deal, Verizon said it has entered into a definitive agreement to acquire the enterprise-grade videoconferencing and event platform in order to expand its “immersive unified communications portfolio”.
“Customers will benefit from a BlueJeans enterprise-grade video experience on Verizon’s high-performance global networks. In addition, the platform will be deeply integrated into Verizon’s 5G product roadmap, providing secure and real-time engagement solutions for high growth areas such as telemedicine, distance learning and field service work,” it wrote.
“As the way we work continues to change, it is absolutely critical for businesses and public sector customers to have access to a comprehensive suite of offerings that are enterprise ready, secure, frictionless and that integrate with existing tools,” added Tami Erwin, CEO of Verizon Business, in a supporting statement. “Collaboration and communications have become top of the agenda for businesses of all sizes and in all sectors in recent months. We are excited to combine the power of BlueJeans’ video platform with Verizon Business’ connectivity networks, platforms and solutions to meet our customers’ needs.”
The acquisition comes at a time when videoconferencing is seeing a massive uptick in usage as white collar workers around the world log on to meetings from home during the coronavirus pandemic.
Although it’s BlueJeans’ rival, Zoom, that’s been the most high profile name linked to the viral videoconferencing boom in recent weeks. The latter recently revealed that daily meeting participants on its platform jumped from a modest 10M in December to 200M in March.
However such booming growth and consumer usage has brought increased scrutiny for Zoom — leading to a spate of warnings (and even some bans), related to security and privacy concerns. And earlier this month the company said it would freeze product dev to focus on the laundry list of issues that have surfaced as users have piled in and kicked its tires, taking a little of the shine off of surging growth.
On the sheer usage front BlueJeans is certainly small fish in comparison to Zoom — having remained b2b focused. A BlueJeans spokeswoman told us it has more than $100M ARR and over 15,000 customers at this point. (Some notable users include Facebook and Disney.)
But it’s paying users that are likely of most interest to Verizon, hence talk of telemedicine, distance learning and field service work — areas ripe for coronavirus-accelerated digitization. Carriers generally, meanwhile, haven’t been able to translate increased usage during the pandemic into a revenue growth story — as a result of a combination of fixed costs, debt and market disruption that’s been hitting their shares during the coronavirus crisis, per Reuters. Bolting on more b2b tools looks to be one way of growing network revenues.
“The combination of BlueJeans’ world class enterprise video collaboration platform and trusted brand with Verizon Business’ next generation edge computing innovation will deliver highly differentiated and compelling solutions to our joint customers,” said Quentin Gallivan, BlueJeans CEO, in a statement. “We are very excited about joining the Verizon team and we truly believe the future of business communications starts today!”
Verizon said today that said BlueJeans founders and “key management” will join the company as part of the acquisition, with BlueJeans employees set to become Verizon employees immediately following the close of the deal — which is expected in the second quarter, pending customary closing conditions.
BlueJeans co-founder Krish Ramakrishnan has a history of exits, selling a couple of his previous startups to networking giant Cisco — where he has also worked, in between spinning out his own companies.
*Disclosure: Verizon is also TechCrunch’s parent company
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Disney+ Hotstar has about 8 million subscribers
We finally know just about how many subscribers Hotstar has amassed over the years in India. “Approximately 8 million.”
Disney said on Wednesday that its eponymous streaming service now has over 50 million subscribers, nearly 8 million of whom are in India, where it launched its service atop Hotstar less than a week ago.
Five-year-old Hotstar is the most popular on-demand streaming service in India with more than 300 million users. The service and its operator, Indian network Star India, were picked up by Disney as part of its $71 billion deal with Fox last year.
For years, people in the industry have been curious about Hotstar’s premium subscriber base — to no luck. Most estimates have suggested it had about 1.5 million to 2 million subscribers. Executives at rival firms have expected that figure to be lower.
In fact, a months-long analysis conducted by one streaming firm in India concluded recently that there were 2 million paying subscribers for music and video services. So 8 million is a huge milestone.
But ARPU that Disney will clock from these 8 million subscriber is going to be far lower. Disney+ Hotstar is available in India at a yearly subscription cost of about $20. (That’s the revised subscription cost. Prior to Disney+’s launch in India, Hotstar charged about $13.) The service also offers a lower-cost tier that costs under $5.5 a year.
And for that $20 a year, subscribers of Disney+ Hotstar get access to a wide-range of catalog that includes 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.
“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,” Matthew Ball, former head of strategic planning for Amazon Studios, told TechCrunch in a recent conversation.
Disney+ competes 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 over 27 million subscribers.
Most of these services monetize their viewers through ads, and have kept their monthly subscription price below $3.
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Grab your ticket: Only one week to TC Sessions: Robotics + AI 2020
It’s T-minus one week to the big day, March 3, when more than 1,000 startuppers will convene in Berkeley, Calif. for TC Sessions: Robotics + AI 2020. We’re talking a hefty cross-section representing big companies and exciting new startups. We’re talking some of the most innovative thinkers, makers, researchers, investors and influencers — all focused on creating the future of these two world-changing technologies.
Don’t miss out on this one-day conference of interviews, panel discussions, Q&As, workshops and demos dedicated to every aspect of robotics and AI. General admission tickets cost $345. Snag your ticket now and save, because prices go up at the door. Want to save even more? Save 15% when you buy four or more tickets. Are you a student? Grab a ticket for just $50.
What do we have planned for this TC Session? Here’s a small sample of the fab programming that awaits you, and be sure to check out the full TC Session agenda here.
- Q&A with Founders: This is your chance to ask questions of Sébastien Boyer, co-founder and CEO of FarmWise and Noah Ready-Campbell, founder and CEO of Built Robotics — some of the most successful robotics founders on our stage.
- Disney Robotics: Imagineers from Disney will present state-of-the-art robotics built to populate its theme parks.
- Investing in Robotics and AI: Lessons from the Industry’s VCs: Dror Berman, founding partner at Innovation Endeavors, Jocelyn Goldfein, managing director at Zetta Venture Partners and Eric Migicovsky, general partner at Y Combinator will discuss the rising tide of venture capital funding in robotics and AI. The investors bring a combination of early-stage investing and corporate venture capital expertise, sharing a fondness for the wild world of robotics and AI investing.
And — new this year — don’t miss watching the finalists from our Pitch Night competition. Founders of these early-stage companies, hand-picked by TechCrunch editors, will take the stage and have just five minutes to present their wares.
With just one more week until TC Sessions: Robotics + AI 2020 kicks off, you don’t have much time left to save on tickets. Why pay more at the door? Buy your ticket now and join the best and brightest for a full day dedicated to all things robotics.
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Disney sells mobile game studio FoxNext Games to Scopely
Disney announced today it has sold the game studio FoxNext Games Los Angeles, the makers of “MARVEL Strike Force” and other titles, as well as Cold Iron Studios in San Jose, to the interactive entertainment and mobile game company Scopely. The studios were acquired by Disney in 2019 as a part of its $71.3 billion deal for 21st Century Fox. Disney is not, however, divesting of Fox’s full gaming lineup. The company clarified that its separate portfolio of Fox IP-licensed game titles were not a part of this deal and will continue to be a part of Disney’s licensed games business.
Acquisition terms were not disclosed.
FoxNext Games released its first title, “MARVEL Strike Force” in March 2018 and it brought in $150 million in its first year across iOS and Android. Another FoxNext title, “Storyscape,” released in early 2019, offers choose-your-own-adventure tales taking place in the world of “The X-Files” or “Titanic.” (This one is a part of Fogbank and not included in the acquisition.)
More recently, the studio soft-launched “Avatar: Pandora Rising,” a massive real-time strategy and social game set in Pandora from the movie “Avatar.”
According to data from Sensor Tower, “MARVEL Strike Force” has been downloaded more than 26 million times to date. “Storyscape” has topped 1.7 million installs. The Avatar title isn’t broadly available, as it’s still in development. It only has 100,000 downloads at present.
FoxNext’s website also notes a game based on the movie franchise “Alien” is coming soon. (This was acquired with FoxNext’s own deal for Cold Iron Studios back in 2018.)
“We have been hugely impressed with the incredible game the team at FoxNext Games has built with MARVEL Strike Force and can’t wait to see what more we can do together,” said Tim O’Brien, chief revenue officer at Scopely, in a statement about the deal. “In addition to successfully growing our existing business, we have been bullish on further expanding our portfolio through M&A, and FoxNext Games’ player-first product approach aligns perfectly with our focus on delivering unforgettable game experiences. We are thrilled to combine forces with their world-class team and look forward to a big future together,” he added.
Scopely, which hit over a billion in lifetime revenue in summer 2019, had also acquired DIGIT Game Studios last year, home to the top-grossing MMO/strategy game “Star Trek Fleet Command” and strategy MMO “Kings of the Realm.”
Other Scopely top game titles include “Looney Tunes World of Mayhem,” “The Walking Dead: Road to Survival,” “Wheel of Fortune: Free Play,” “WWE Champions 2019,” “Yahtzee with Buddies Dice Game,” “Dice with ellen,” “Scrabble Go” and many more.
With its latest acquisition, Scopely adds another top-grossing game to its lineup, expands its in-development pipeline and gains the expertise of the FoxNext team. When the transaction completes, FoxNext Games President Aaron Loeb will join Scopely in a newly created executive role and FoxNext Games SVP & GM Amir Rahimi will lead the FoxNext Games Los Angeles studio within Scopely as president, Games.
(Correction: Typos of FoxNext’s name corrected. It is FoxNext, not FoxNet; Also added info on Storyscape being excluded from the deal.)
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In the shadow of Amazon and Microsoft, Seattle startups are having a moment
Venture capital investment exploded across a number of geographies in 2019 despite the constant threat of an economic downturn.
San Francisco, of course, remains the startup epicenter of the world, shutting out all other geographies when it comes to capital invested. Still, other regions continue to grow, raking in more capital this year than ever.
In Utah, a new hotbed for startups, companies like Weave, Divvy and MX Technology raised a collective $370 million from private market investors. In the Northeast, New York City experienced record-breaking deal volume with median deal sizes climbing steadily. Boston is closing out the decade with at least 10 deals larger than $100 million announced this year alone. And in the lovely Pacific Northwest, home to tech heavyweights Amazon and Microsoft, Seattle is experiencing an uptick in VC interest in what could be a sign the town is finally reaching its full potential.
Seattle startups raised a total of $3.5 billion in VC funding across roughly 375 deals this year, according to data collected by PitchBook. That’s up from $3 billion in 2018 across 346 deals and a meager $1.7 billion in 2017 across 348 deals. Much of Seattle’s recent growth can be attributed to a few fast-growing businesses.
Convoy, the digital freight network that connects truckers with shippers, closed a $400 million round last month bringing its valuation to $2.75 billion. The deal was remarkable for a number of reasons. Firstly, it was the largest venture round for a Seattle-based company in a decade, PitchBook claims. And it pushed Convoy to the top of the list of the most valuable companies in the city, surpassing OfferUp, which raised a sizable Series D in 2018 at a $1.4 billion valuation.
Convoy has managed to attract a slew of high-profile investors, including Amazon’s Jeff Bezos, Salesforce CEO Marc Benioff and even U2’s Bono and the Edge. Since it was founded in 2015, the business has raised a total of more than $668 million.
Remitly, another Seattle-headquartered business, has helped bolster Seattle’s startup ecosystem. The fintech company focused on international money transfer raised a $135 million Series E led by Generation Investment Management, and $85 million in debt from Barclays, Bridge Bank, Goldman Sachs and Silicon Valley Bank earlier this year. Owl Rock Capital, Princeville Global, Prudential Financial, Schroder & Co Bank AG and Top Tier Capital Partners, and previous investors DN Capital, Naspers’ PayU and Stripes Group also participated in the equity round, which valued Remitly at nearly $1 billion.
Up-and-coming startups, including co-working space provider The Riveter, real estate business Modus and same-day delivery service Dolly, have recently attracted investment too.
A number of other factors have contributed to Seattle’s long-awaited rise in venture activity. Top-performing companies like Stripe, Airbnb and Dropbox have established engineering offices in Seattle, as has Uber, Twitter, Facebook, Disney and many others. This, of course, has attracted copious engineers, a key ingredient to building a successful tech hub. Plus, the pipeline of engineers provided by the nearby University of Washington (shout-out to my alma mater) means there’s no shortage of brainiacs.
There’s long been plenty of smart people in Seattle, mostly working at Microsoft and Amazon, however. The issue has been a shortage of entrepreneurs, or those willing to exit a well-paying gig in favor of a risky venture. Fortunately for Seattle venture capitalists, new efforts have been made to entice corporate workers to the startup universe. Pioneer Square Labs, which I profiled earlier this year, is a prime example of this movement. On a mission to champion Seattle’s unique entrepreneurial DNA, Pioneer Square Labs cropped up in 2015 to create, launch and fund technology companies headquartered in the Pacific Northwest.
Boundless CEO Xiao Wang at TechCrunch Disrupt 2017
Operating under the startup studio model, PSL’s team of former founders and venture capitalists, including Rover and Mighty AI founder Greg Gottesman, collaborate to craft and incubate startup ideas, then recruit a founding CEO from their network of entrepreneurs to lead the business. Seattle is home to two of the most valuable businesses in the world, but it has not created as many founders as anticipated. PSL hopes that by removing some of the risk, it can encourage prospective founders, like Boundless CEO Xiao Wang, a former senior product manager at Amazon, to build.
“The studio model lends itself really well to people who are 99% there, thinking ‘damn, I want to start a company,’ ” PSL co-founder Ben Gilbert said in March. “These are people that are incredible entrepreneurs but if not for the studio as a catalyst, they may not have [left].”
Boundless is one of several successful PSL spin-outs. The business, which helps families navigate the convoluted green card process, raised a $7.8 million Series A led by Foundry Group earlier this year, with participation from existing investors Trilogy Equity Partners, PSL, Two Sigma Ventures and Founders’ Co-Op.
Years-old institutional funds like Seattle’s Madrona Venture Group have done their part to bolster the Seattle startup community too. Madrona raised a $100 million Acceleration Fund earlier this year, and although it plans to look beyond its backyard for its newest deals, the firm continues to be one of the largest supporters of Pacific Northwest upstarts. Founded in 1995, Madrona’s portfolio includes Amazon, Mighty AI, UiPath, Branch and more.
Voyager Capital, another Seattle-based VC, also raised another $100 million this year to invest in the PNW. Maveron, a venture capital fund co-founded by Starbucks mastermind Howard Schultz, closed on another $180 million to invest in early-stage consumer startups in May. And new efforts like Flying Fish Partners have been busy deploying capital to promising local companies.
There’s a lot more to say about all this. Like the growing role of deep-pocketed angel investors in Seattle have in expanding the startup ecosystem, or the non-local investors, like Silicon Valley’s best, who’ve funneled cash into Seattle’s talent. In short, Seattle deal activity is finally climbing thanks to top talent, new accelerator models and several refueled venture funds. Now we wait to see how the Seattle startup community leverages this growth period and what startups emerge on top.
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Netflix earmarks $420M to fight Disney in India
Netflix continues to bet heavily on India, one of the world’s largest entertainment markets, where it competes with more than three dozen rivals, including Disney.
Reed Hastings, the chief executive of Netflix, said on Friday that the company is on track to spend 30 billion Indian rupees, or $420.5 million, on producing and licensing content in India this year and next.
“This year and next year, we plan to spend about Rs 3,000 crores developing and licensing content and you will start to see a lot of stuff hit the screens,” he said at a conference in New Delhi.
The rare revelation today has quickly become the talk of the town. “This is significantly higher than what we have invested in content over the past years,” an executive at one of the top five rival services told TechCrunch. Another industry source said that no streaming service in India is spending anything close to that figure on just content.
While it remains unclear exactly how much capital other streaming services are pouring into content, a recent KPMG report estimated that Hotstar was spending about $17 million on producing seven original shows this year, while Eros Now had pumped about $50 million into its India business to create 100 new original shows. (The report does not talk about licensing content expenses.)
Netflix, which entered India as part of its global expansion to more than 200 nations and territories in early 2016, has so far produced more than two dozen original shows and movies in the country and inked partnerships with a number of local studios, including actor Shah Rukh Khan’s Red Chillies Entertainment.
Hastings said several of the shows the company has produced in India, including A-listed cast thriller “Sacred Games” and animated show “Mightly Little Bheem,” have “traveled around the world.” More than 27 million households outside of India, said Hastings, have started to watch “Mighty Little Bheem,” a show aimed at children.
Netflix, which is expected to spend about $15 billion on content globally next year, has never shared the number of subscribers it has in India. (It has over 158 million subscribers globally.) But the company’s financials in the country, where it employs about 100 people, have improved in recent quarters. In the financial year that ended in March, the company posted revenue of $65 million and profit of about $720,000 for its India business.
The big, big, big Indian market
India has emerged as one of the last great growth markets for global technology and entertainment firms. About half of the nation’s 1.3 billion population is now online and the country’s on-demand video market is expected to grow to $5 billion in the next four years, according to Boston Consulting Group.
But the propensity — or the capacity — of most of these internet users to pay for a subscription service remains significantly low. Most services operating in India today generate the majority of their revenue from ads. And others, which rely on a recurring model, are making major changes to their offerings in the nation.
To broaden its reach in the nation, Netflix earlier this year introduced a new monthly price tier — $2.8 — that allows users in India to watch the streaming service in standard quality on a mobile device. (The company has since expanded this offering to Malaysia.)
Netflix competes with more than three dozen on-demand video streaming services in India. Chief among its competitors in the nation is Disney’s Hotstar. Hotstar’s content includes live TV channels, streaming of sports events and thousands of movies and shows, many syndicated from global networks and studios such as HBO and Showtime.
The ad-supported service offers more than 80% of its catalog at no charge to users and charges 999 Indian rupees ($14) a year for its premium tier.
Among the licensed content that Hotstar — or its operator Star India — owns in the country includes rights to stream a number of cricket tournaments. Cricket is incredibly popular in India and has helped Hotstar set global streaming records.
In May this year, Hotstar reported that more than 25 million people simultaneously watched a cricket match on the platform — a global record. The service, at the time, had more than 300 million monthly active users.
Commenting on the competition, Hastings said the next five to 10 years is going to be “the golden age of television” as “unbelievable and unrivaled levels of investment” go into producing content. “They are all investing here in India. We are seeing more content made than ever before. It’s a great export,” he added.
Disney+, the recently launched streaming service from the global content conglomerate, is set to be available in India and Southeast Asian markets next year through Hotstar, TechCrunch reported last month.
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Ubiquity6’s Display.land is part 3D scanner, part social network
The world is being mapped in 3D — one brick, one bench, one building at a time. For things like hyper-accurate augmented reality, autonomous robots and self-driving cars, 2D maps and GPS only get you so far.
Apple is building its map with lasers strapped to the tops of cars. Niantic has talked about building 3D maps of parks and public spaces by way of user-submitted imagery. The Army is making 3D maps with drones.
Ubiquity6, a startup that’s spent much of the last two years quietly chipping away at the challenges of building shared augmented reality experiences, is trying something different: a social network, of sorts, for scanning and sharing 3D spaces.
The company’s first publicly launched app, Display.land, started rolling out on iOS and Android over the weekend. Part 3D scanner and part social network, it lets you scan a location or object, edit it (cropping it to just the bits you’re interested in, or adding pre-built digital objects), and share it with the world. Want everyone to see it? You can pin a scan to a map, allowing anyone panning by to explore your scan. Want to keep it to yourself? Flip the privacy toggle accordingly.
The idea: quick and simple 3D scans of real-world spaces, shareable at large or just with the people you choose. Exploring a new city and found some neat art in an alleyway? Scan it and post it for everyone to “walk” around. Renting an apartment and want to give potential tenants some idea of what the space is like? Scan it, put the link in the listing and it’ll open right up in their browser without any downloads.
Starting a new scan is simple: hit the “new” button, find some particularly interesting bit of geometry to focus on and hit “begin.” As you radiate away from the initial focal point, you’ll see your camera view filling with countless colored spheres. Each sphere represents a geometric feature that the camera has captured, helping to highlight the areas that have been sufficiently covered.
As you roam, a bar starts to stretch across the bottom of your screen. Once it seems like you’ve captured enough geometry for a complete mesh, the app will let you know — but if you want your scan to be more true to life, you’re free to continue scanning until the bar is completely full.
Between the point cloud data and all of the photographic textures being captured, these scans can get pretty big. My test scans were coming in at a few hundred megabytes. That’ll eat up your data quick if you’re uploading over a cell network, so you’ve got the option to hold off uploading until you’re back on Wi-Fi. Once uploaded, Ubiquity6 will take a few minutes to process everything, crunching all of the raw data into a model you can fly around and explore.
While the scans it makes are rarely perfect, it’s… really damned wild what they’re pulling off with just your phone’s RGB camera and its assorted built-in sensors. With a bit of practice and sufficient lighting, the scans it can pull off are rather incredible. Check out this scan of Ron Mueck’s Mask II sculpture from the SF MOMA, for example — or this pool from a skatepark in SF’s Mission District. (And note that it’s all rendering live in the browser; you can scroll to zoom, orbit around, etc.)
Scanning/editing/sharing is free. If you’re feeling fancy, you can even open your scan in a browser and download it in a file format (OBJ, PLY, or GLTF) that’s ready to be fiddled with in your desktop 3D modeling software of choice. As for how they’ll make money? The company plans to charge companies that need a bit more than the base offering — if a company wants to 3D scan a space at the highest possible fidelity, for example, they can pay extra for the added processing time.
Meanwhile, they’re laying the groundwork for what seems to be the company’s actual interest: shared, multiplayer augmented reality experiences. For now, these scans are mostly static — you can add cutesy 3D models like treasure chests and floating butterflies to mix it up a bit, but they’re mostly there just to be pretty. In time, though, they’re looking to add gaming elements; think games that automatically unlock when you walk into a certain physical space, with physics and functionality determined by the real-world geometry around you.
Ubiquity6 has raised a little over $37 million to date. It’s backed by KPCB, First Round, Index Ventures, Benchmark and Gradient, and was part of Disney’s fifth accelerator class.
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Disney+ to launch in India, Southeast Asian markets next year
Disney plans to bring its on-demand video streaming service to India and some Southeast Asian markets as soon as the second half of next year, two sources familiar with the company’s plan told TechCrunch.
In India, the company plans to bring Disney+’s catalog to Hotstar, a popular video streaming service it owns, after the end of next year’s IPL cricket tournament in May, the people said.
Soon afterwards, the company plans to expand Hotstar with the Disney+ catalog to Indonesia and Malaysia, among other Southeast Asian nations, said those people on the condition of anonymity.
A spokesperson for Hotstar declined to comment.
Hotstar leads the Indian video streaming market. The service said it had more than 300 million monthly subscribers during the IPL cricket tournament and ICC World Cup earlier this year. More than 25 million users simultaneously streamed one of the matches, setting a new global record.
However, Hotstar’s monthly user base plummeted below 60 million in the weeks following the IPL tournament, according to people who have seen the internal analytics. The arrival of more originals from Disney on Hotstar, which already offers a number of Disney-owned titles in India, could help the service sustain users after cricket season.
The international expansion of Hotstar isn’t a surprise as it has entered the U.S., Canada and the U.K. in recent years. In an interview with TechCrunch earlier this year, Ipsita Dasgupta, president of Hotstar’s international operations, said so far the platform’s international strategy has been to enter markets with “high density of Indians.”
In an earnings call for the quarter that ended in June this year, Disney CEO Robert Iger hinted that the company, which snagged Indian entertainment conglomerate Star India as part of its $71.3 billion deal with 21st Century Fox, would bring Star India-operated Hotstar to Southeast Asian markets, though he did not offer a timeline.
Disney+, currently available in the U.S, Canada and the Netherlands, will expand to Australia and New Zealand next week, and the U.K., Germany, Italy, France and Spain on March 31, the company announced last week.
Price hike
Disney, which debuted its video streaming service in the U.S. this week and has already amassed more than 10 million subscribers, plans to raise the monthly subscription fee of Hotstar in India, where the service currently costs $14 a year, one of the two aforementioned people said.
A screenshot of Hotstar’s homepage
The price hike will happen toward the end of the first quarter next year, just ahead of commencement of next the IPL cricket tournament season, they said. The company has not decided exactly how much it intends to charge, but one of the people said that it could go as high as $30 a year.
In other Southeast Asian markets, the service is likely to cost above $30 a year, as well, both of the sources said. The prices have yet to be finalized, however, they said.
Even at those suggested price points, Disney would be able to undercut rivals on price. Until recently, Netflix charged at least $7 a month in India and other Southeast Asian markets. But this year, the on-demand streaming pioneer introduced a $2.8 monthly tier in India and $4 in Malaysia.
Hotstar offers a large library of local movies and titles syndicated from international cable networks and studios Showtime, HBO and ABC (also owned by Disney). In its current international markets, Hotstar’s catalog is limited to some local content and a large library of Indian titles.
In recent quarters, Hotstar has also set up an office in Tsinghua Science Park in Beijing, China and hired more than 60 engineers and researchers to expand its tech infrastructure to service more future users, according to job recruitment posts and other data sourced from LinkedIn.
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Substance abuse affects about 15% of American employees, Path wants to ensure they get help
America has an addiction problem.
It’s a problem that serial entrepreneur Josh Bruno has seen first hand. And it’s why he has launched a new company called Path, which pitches access to specialized substance addiction treatment professionals as an employee health benefit, to do something about it.
“I have unfortunately lost five friends now to alcohol and opioid overdoses. I went to five funerals in three years,” says Bruno. “Every time I would end up talking to friends and family afterwards… and everyone would ask, ‘What could we have done?’ “
Now Bruno is doing something.
While Alcoholics Anonymous and rehabilitation facilities provide one solution, Bruno says that neither one has the scope to address the enormity of the problem.
Bruno thinks Path may be the avenue to best address the issue. The idea is to provide near-instant access to specialized providers of substance abuse treatment as a benefit that employers can offer to their staff.
As the founder of HomeTeam, which provided in-home senior care and a software toolkit to manage that care, Bruno already has an understanding of the healthcare marketplace.
“We plug in to an employer and provide a holistic solution for the employees. We bring a doctor, a therapy and a coach,” says Bruno of the new service he’s launching. “We’re not a provider ourselves and we bring a network of providers.”
The business model evolved as Bruno began researching how things are currently done. “I have volunteered at AA and rehab facilities [and] I talked to labor union leaders across the country,” says Bruno. He also reached out to the nation’s 23 largest employers and shadowed treatment specialists to see how substance abuse treatment is currently handled.
“The first thing I saw is that 10% — or one in 10 adults across the U.S. — have a substance abuse disorder,” says Bruno. “That shocked people because it’s more than diabetes.”
What’s more, about 33% of mental health issues are actually addiction-related, which can add additional stress on an employers’ healthcare costs.
The founding team at Path, which includes Bruno and Gabriel Diop, who heads partnerships, and Greg Moore, who leads product development, all think of substance abuse treatment as an access issue. People looking for treatment simply don’t know where to go to get the most effective and affordable help.
“Today the health insurance company would give a list of in-network providers and it’s up to the patient to figure out where to go [and] 50% of time they go out of network,” says Bruno.
When Path works with a large employer, a phone call is made directly to the company and that call goes to a clinical social worker, who handles the intake of a prospective patient. The company has deals with addiction doctors in the geographies where it operates and can ensure that an assessment can be done within 48 hours.
After the assessment, a treatment plan is drawn up and the company will manage that process for the employer, and the physician as well.
Path is already talking to two Fortune 100 companies about deploying its service. “It’s a targeted, regional service,” says Bruno. “Not a national service.”
The Los Angeles-based company has raised $5.35 million to date in a round of funding led by Upfront Ventures, with participation from Sequoia Benefits, Radian Street Capital and angel investors including Barbara Wachsman, the former head of benefits at Disney; Amy Shannon, the former head of benefits at Chevron; and Howard Cherny, the former head of benefits at Cisco.
“Put simply, Path plans to work with the best addiction treatment providers across the continuum in the U.S., which is exactly what is needed. Finally, a team is focusing on core issues of quality and cost-effective treatment,” said Kelly Clark, a member of the Path Clinical Advisory Board, and the former president of the American Society of Addiction Medicine.
Not only can Path help to roll out access to treatment at scale, but the company can also reduce healthcare costs for companies, according to Bruno.
“It will lower the expense to the plan,” he says. “Approximately 30% to 50% of employees are going out of network for addiction treatment… that’s $25,000 to $50,000 per month.”
Path’s costs are substantially lower, and the company is only paid if members use the network, he said.
“Employers have made a commitment to the health and well-being of their employees. If mental health is a top priority for your organization, you can’t ignore [substance use disorders],” said Wachsman, in a statement.
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Facebook secures exclusive digital rights for ICC cricket events
If you’re a cricket fan, you will be visiting Facebook way more often in the coming months and years. The social juggernaut announced on Thursday it has partnered with the International Cricket Council (ICC), the global governing body of cricket, to secure exclusive digital content rights until 2023 for global ICC events in the Indian subcontinent.
As part of the four-year deal, financial details of which were not disclosed, Facebook will show post-match recaps and in-play key moments and other “feature content” of the matches in the Indian subcontinent. The exclusive rights are limited to the Indian subcontinent; elsewhere the company will carry post-match recaps. Facebook said it hopes to serve “hundreds of millions of cricket fans” through this “unprecedented” and “ground-breaking” deal.
A Facebook spokesperson told TechCrunch that the company won’t be live-streaming the matches in any market.
In a statement, Ajit Mohan, VP and managing director Facebook India, said, “with Facebook, Instagram and WhatsApp, the ICC has an exceptional opportunity to leverage our family of apps to serve current sports fans as well as bring in an entirely new generation of fans. Every day, people come to our platforms to talk about, and form friendships around, cricket. With this partnership, we will be able to serve these fans with the kind of premium content that can ignite new conversations, new connections and new followership.”
Though not as popular in the U.S., cricket is one of the most celebrated sporting events in many key Facebook markets, including the U.K., India and Australia. How popular? Hotstar, a streaming service in India owned by Disney, has set global record for most concurrent views on a live-streaming event thanks to cricket.
Facebook is well aware. In 2017, the company bid $600 million for online streaming rights of IPL, a popular cricket tournament in India, for a period of five years. It lost the bid to Star India, which operates Hotstar. Last year, the company tested the waters after it acquired streaming rights to show La Liga games in India.
The recently concluded ICC Men’s Cricket World Cup garnered 4.6 billion video views across ICC’s digital and social media platforms, ICC said.
Today’s deal includes coverage of the following events: ICC Women’s T20 World Cup 2020, ICC Men’s T20 World Cup 2020, ICC Women’s Cricket World Cup 2021, ICC World Test Championship Final 2021, ICC Men’s T20 World Cup 2021, ICC Women’s T20 World Cup 2022, ICC Men’s Cricket World Cup 2023, ICC World Test Championship Final 2023, ICC Men’s T20 World Cup Qualifier 2019, ICC Men’s Cricket World Cup Qualifier 2022, ICC U19 Cricket World Cup 2020 and ICC U19 Cricket World Cup 2022.
Last year, Star India acquired digital and TV rights to live-stream and broadcast all of Indian cricket teams’ matches globally for a sum of $944 million.
Facebook’s Mohan, who served as the chief executive of Hotstar prior to joining the social juggernaut, added, “the future of AR and VR is being charted by Facebook and we are excited about the possibility of bringing the best of our innovations to fans around the world.”
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