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China and Australia will be far out in front, although in China only Tencent, Youku, iQiyi, and their local peers will benefit. India’s user growth is decelerating quickly, but it will outpace the global rate for several more years. Between 2022 and 2026, India will add 49.4 million sub OTT users. During that same time period, the US will add just 16.6 million.

You had e-commerce and mobile internet adoption taking place at the same time, and it was really enabled by these platforms, namely Alibaba and Tencent that created ecosystems, the super apps with payments, mobile payments. And remember in China, credit and debit card adoption or penetration was very low at this time and still continues to be.

We are looking at perhaps the other games from Tencent as well that are becoming popular, especially the gaming apps, that are becoming popular around the world. So there's huge ramification in this. Bill Fisher:. Really interesting stuff.

Jeremy noting that YouTube Music, combined with YouTube premium has over 80 million paying subscribers, good enough to be the world's fourth largest paid music streaming service, behind Spotify, Apple Music and, China only, TenCent. But that 80 million YouTube Music plus premium still well below Spotify, less than half. Spotify has 200 million paid subscribers.

Because in 2020, the federal court stopped the Trump administration from banning messaging app WeChat, also owned by a Chinese company called Tencent, after users said it would violate their free speech rights. And in the same year, the federal court blocked then President Trump's attempt to ban TikTok by arguing it overstepped the scope of presidential power.

And Tencent, Chinese company, abandoned its VR hardware plans in February as well. So while Apple was getting into the game, a lot of other folks are taking multiple steps backwards. But Paul, I mean you touched on something which I think is important, which is the iPad came out and it didn't have a use case. But the Apple Watch came out, that also didn't have a use case.