The Snips Journal - Weekly Newsletter - Issue #2
This week, The Snips Journal comes to you with:
4 Snips in Numbers(SiN)
2 Tiny Snips(TS)
Sit tight and feel those knowledge GAINS cominggg!!💪💪💪
Snips in Numbers
SiN – 8 – 6 Billion
That is the number of support messages facilitated by the messaging bot startup Gupshup every month between 100,000+ businesses and 300 million customers. Gupshup is also India’s 10th Unicorn in the first 4 months of 2021!
SiN – 9 – 42.5%
In the richest city in the world – New York, the top 1% of the richest residents paid $4.9 billion in local income taxes in 2018, forming 42.5% of the total income tax collected by the city.
SiN – 15 – 5,500 Metric Tonnes
In India, before the outbreak in 2020, demand for oxygen was about 700 Metric Tonnes(MT) per day. It spiked to 2,800 MT/day after the outbreak. Currently it is 5,500 MT/day, according to a report by TOI. As against that, India can produce over 7,100 MT/day, of which 6,600 MT/day is allocated to the states for their medical use.
SiN – 20 – $11 Billion
That is the amount that Amazon spent on its video and its music streaming content in 2020. It is a 41% increase from $7.8 billion spent in 2019.
Tiny Snips
TS – 4 – Netflix x Sony Pictures
Netflix grabbed exclusive streaming rights to entire set of movies to be released by Sony Pictures in 2022 as a part of a multi-year deal. That might include the sequel to “Spider-Man: Into the Spider-Verse”!
The deal will also allow Netflix to stream Sony’s extensive library including the ones of Columbia Pictures.
Notably Sony Pictures doesn’t have its own streaming platform so the deal is pretty much sealed for some years from now for sure!
TS – 6 – Massive Exits ft. Citi
Last week, Citigroup said it will exit its consumer franchises(retail banking segments) in 13 countries – India, Australia, Bahrain, China, Indonesia, Korea, Malaysia, Philippines, Poland, Russia, Taiwan, Thailand, and Vietnam. Those resources would be “deployed against higher returning opportunities in wealth management and our institutional businesses in Asia.” according to Citi CEO.
Why?
Retail banking is more hectic compared to institutional banking(catering to businesses) in that it requires more man power, attending to consumer queries and after sales services. The countries mentioned above form about 40-50% of world population.
Steady decline in global consumer banking income as mentioned in the quarterly results here.
Citi being a pioneer in the credit cards industry, this exit will be a boon to the local credit card providers.
Lets meet here for the next issue in a week.
Until then,
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