Five years ago this week… US film producer and almost-billionaire Jeffrey Katzenberg secured more than $1 billion in funding for a short-form, mobile-first streaming service to be called NewTV. The platform was later renamed Quibi, the short-lived “dumbest thing to ever cost a billion dollars”, in the words of Jimmy Kimmel. It launched in 2020 and lasted only 6 months. Faultline had seen the writing on the wall from the beginning. Disney+ ended Q2 2023 with 105.7 million paid subscribers globally, a practically flat 1% growth from the previous quarter. Q2 was bad news for the Indian streaming business, Disney+ Hotstar, which saw its subscriber base churn out 12.5 million subscribers – a quarter of its entire base…