Hey hey Flux fam!

Here's everything you need to know today - in under 3 minutes.

Today's big stories:

🚗Uber buys Car Next Door to broaden its offering

🎬Disney forms an international content group

🥤Coke changes its packaging

Oh and get this... 

Milkrun, the Aussie delivery company that promises super-speedy grocery deliveries (we're talkin' under 10 minutes) has just banked a huge $75 million in funding…less than 8 months after the company launched. Not bhed.

There's just something about the Car Next Door, hey? Well, Uber just bought it

Background: Car Next Door is a peer-to-peer car rental service. In other words, car-owners can rent their cars on an hourly or daily basis to other people.

What happened: In 2013, they had around 20 cars on the platform. Now, they have over 3,500 cars and 100,000 thirsty drivers across major Aussie cities.

What else: Now, Uber has acquired Car Next Door for an undisclosed amount (robbing us of a scoop, WE KNOW). The idea is that Car Next Door will give Uber users a different option...and avoid that awks small talk.

So what's the key learning?

💡To own an industry, a company needs to have product diversification. And it's particularly important for businesses that have been experiencing a bit of a growth rut.

💡Product diversification can be things like repackaging an existing product, renaming a product...or it could be a product extension (i.e. giving customers the opportunity to rent a car as opposed to just hitching a ride in one).

💡Up until now, Uber customers haven't had the option to take a mid-range or long-distance trip. But, the deal with Car Next Door will change that, and hopefully boost Uber's bottom line.

Disney+ forms an international content group to look like it's doing something to meet its 260 million subscriber goal

Background: Disney+ is home to banger shows like WandaVision, The Mandalorian...and pretty much every Marvel movie and spin-off you can think of.

What happened: Disney+ have repeatedly said they want to reach 230-260 million subscribers by 2024. Right now, they've got around 179 million across all their platforms. 

What else: To hit their target, Disney+ are going deep into content. They have formed an international content team to create unique and catered content for more than 160 countries. 

So what's the key learning? 

💡In the streaming world, content is king...but streaming costs can be queen. It's generally the big shows, films and hype that draws in the subscriber (ya know, like Squid Game-style).

💡But there's another lever to drive subscriber growth: the subscription cost. Netflix just decreased its subscription price in India because hit has just 5 million of the country's 1.4 billion population are subscribers.

💡So by lowering prices, Netflix reckons it could entice more users to join the platform...and help the company reach its next 100 million subscribers. And Disney+ might wanna take a leaf out of their book.

It's survival of the (supermarket) fittest, and Coke wants to be the last fizzy drink standing

Background: Coca-Cola is probably most famous for its delicious, fizzy goodness known as Coke. Ya know, crimson red can...couple burps...bit of a sugar rush.

What happened: While things have been going well at Coke HQ...they reckon Coke needs a fresh, new look.

What else: In the US, Coke is launching magenta cans and bottles for its Cherry Coke flavour. And, a cream-coloured can for Vanilla Coke. The idea is, a new look will help Coke stand out on the shelf. If successful, it might hit Aussie shores soon.

So what's the key learning?

💡For fast-moving consumer goods like Coke, looks matter. And a good shelf presence can be all the difference.

💡A good shelf presence comes down to three factors:

1. Packaging (aka the colours and material used to cover the product)
2. Product innovation (aka the different flavours or types of products you have)
3. Placement (ya know, eye level is buy level, baby).

💡By switching up its packaging, Coke is hoping to engage shoppers at their most important touchpoint (the supermarket) and boost sales.