iWorld
MX Player is the #1 Breakout Video Streaming App of 2019 in India, as per the State of Mobile 2020 report by App Annie
MX Player is the #1 Breakout Video Streaming App of 2019 in India, ahead of Hotstar, Netflix, Amazon Prime and JioTV, according to the State of Mobile 2020 report by App Annie. The platform has dominated the market in terms of time spent on Android phones among Entertainment or Video Players & Editors, records the research firm.
According to the report, globally, consumers spent 50% more sessions in Entertainment apps in 2019 as compared to 2017 with India seeing a staggering 80% increase in the amount of time consumers spent on Entertainment apps.
MX Player’s focus on 360 degree entertainment has driven the platform to the pinnacle of India's over-the-top (OTT) video entertainment segment.
On the success, Karan Bedi, CEO, MX Player, said, “We are very excited to have come this far in such a short time. This has been on the back of great content like Queen and Hello Mini as well as a great product.
Our aim has always been to emerge as the preferred destination for all things entertainment; along with offering premium video content, we were the only app to introduce music streaming as well. We’re now adding other avenues of entertainment to the platform – the beta launch of our gaming feature has received tremendous response and given how gaming has become mainstream in India in the last two years, it was a natural fit for our audience. Here on, our plans include expanding our footprint in international markets as well.”
Additionally, the report says, competition in the video streaming space will bolster better user experiences as well as better and much more diverse content to drive growth in downloads, usage and revenue.
Currently, MX Player has 280 million MAUs globally and 175 million MAUs in India.
iWorld
Snap names Doug Hott CFO as Derek Andersen exits amid restructuring
Leadership shift and layoffs signal sharper focus on costs and growth path
NEW YORK: Snap Inc. is reshuffling its top leadership, appointing Doug Hott as chief financial officer as longtime finance chief Derek Andersen prepares to step down next month.
In an internal note, Snap chief executive officer Evan Spiegel said Andersen will leave after nearly eight years with the company, with his final earnings call set for May 6 and last working day on May 8. Andersen is departing for a new opportunity, closing a chapter that saw him guide the company through the pandemic, major shifts in digital advertising, and broader economic turbulence.
Reflecting on his tenure, Snap chief executive officer Evan Spiegel said Derek Andersen had been “a great partner” who helped steer the business through some of its most challenging periods while keeping a steady focus on long-term growth and profitability.
Taking over is Doug Hott, currently vice president of finance, strategy and corporate development, who has worked closely with leadership on capital allocation and restructuring. Snap chief executive officer Evan Spiegel described Doug Hott as a long-time partner with a strong commitment to cost discipline and doing more with less, signalling continuity at a time when efficiency is front and centre.
The leadership transition comes alongside a broader organisational reset. The workplace experience team will now report to Scott Withycombe, while the content team will move under the product organisation led by Ceci Mourkogiannis. Partnerships executives Anne and Craig will report to Zach Kahn as Snap aims to streamline operations.
The changes follow a recent round of layoffs that saw the company cut around 1,000 roles, or roughly 16 per cent of its workforce, reflecting a wider industry push towards leaner structures and tighter cost controls.
Investors are now turning their attention to Snap’s upcoming quarterly results in early May, which are expected to offer clearer signals on the company’s financial trajectory and the impact of its restructuring efforts.
With a new finance chief in place and a sharper organisational focus, Snap appears to be tightening its belt while keeping an eye on long-term growth in an increasingly competitive digital advertising market.
