iWorld
Netflix Q3 app revenue up 90% y-o-y
MUMBAI: Netflix's financials show it had a strong Q3 on mobile. The app dramatically observed an upswing by generating gross $243.7 million which represented a 90 per cent year-on-year increase as compared to Q3 2017. The popular streaming app has surpassed an estimated $1.4 billion in total gross revenue to date worldwide on the App Store and Google Play.
According to the Sensor Tower, during Q3, Netflix’s app gained the most new users from the US, Brazil and India accounted for 19, 13, and 10 per cent of all downloads, respectively. Each of these regions saw growth in installs compared to Q2, but none as large as India, which experienced an increase in downloads of more than 100 per cent.
Overall global consumer spending on the App Store and Google Play totalled $18.2 billion during the third quarter. Apple’s App store widened its lead over Google Play, as the App Store earned $12 billion during Q3 — nearly 93 per cent more than Google Play, and representing the biggest revenue disparity since at least 2014 between the two platforms.
According to reports, Netflix also saw solid growth in downloads over the course of Q3, adding more than 50 million installs. This estimate marks a 16 per cent increase in downloads compared to Q2, and represents an even larger year-over-year growth of 36 per cent. The more than 50 million new users helped push Netflix past 600 million worldwide installs to date. In terms of number of downloads, Facebook again topped the global chart with four of the top five apps for Q3 — WhatsApp at number one, Messenger at number two, Facebook at number three and Instagram at number five. Bytedance’s social-video app TikTok, which the company merged with Musical.ly in August, took the number fourth spot worldwide, marking 15 per cent growth quarter-over-quarter and 440 per cent year-over-year.
Downloads of mobile games grew 2.2 per cent year-over-year last quarter to total 9.5 billion on the two platforms. Google Play saw 76 per cent of those, with 7.2 billion download in the period, according to Sensor Tower.
e-commerce
American Express to acquire AI startup Hyper to boost automation
Deal targets expense management as AI reshapes corporate spending tools.
MUMBAI: From receipts to robots, the expense sheet is getting a brain upgrade as American Express moves to bring artificial intelligence into the heart of corporate spending. The company has announced plans to acquire Hyper, a relatively young but fast-rising startup founded in 2022 that builds AI-powered agents capable of organising expenses, generating reports, verifying compliance with budgets and policies, and nudging users with timely reminders. The deal, expected to close in the second quarter of 2026, underscores a growing shift among financial institutions to automate traditionally manual, time-heavy workflows.
Hyper counts Sam Altman among its backers, adding a layer of Silicon Valley credibility to the acquisition. While financial details remain undisclosed, the strategic intent is clear: deepen automation capabilities and sharpen American Express’s position in the competitive corporate spending ecosystem.
The two companies are not strangers. They previously collaborated in 2024 on a co-branded credit card product, suggesting that the acquisition is less a cold buy and more an extension of an existing relationship. With this move, American Express is effectively bringing that capability in-house, aiming to embed AI directly into its commercial services stack.
Chief executive Stephen Squeri had already signalled the direction of travel in a recent shareholder letter, describing AI as a “structural shift” in how businesses operate. The Hyper acquisition appears to be a direct response to that shift, particularly in expense management, where processes such as approvals, compliance checks and reporting remain ripe for automation.
Alongside the acquisition, the company is also expanding its product suite. A recently launched business credit card offers cashback and benefits at an annual fee of $295, with another card expected later this year moves that complement its broader push into commercial services.
Taken together, the strategy points to a future where managing expenses may require fewer spreadsheets and more algorithms. For American Express, the bet is simple, if businesses are rethinking how work gets done, the tools that power that work need to evolve just as quickly.
