Amazon is reportedly in talks with Times Internet to explore the acquisition of MX Player, one of the largest on-demand video streaming services in India. The acquisition would help Amazon expand its entertainment ambitions in one of its key overseas markets.
At present, the discussions are ongoing and may not materialize into a deal, as the terms of the deal are yet to be finalized. While Times Internet and Amazon have not yet responded to a request for comment, at least two other players, including Zee-Sony, have expressed interest in acquiring the Times Internet-owned app.
Who owns MX player?
MX Player was acquired by the Indian conglomerate Times Internet for $140 million in 2018. The video app has expanded to original content in recent years and has amassed more than 300 million users globally, making it one of the earliest video apps to expand into the short-video format.
The app has gained wide adoption in markets such as India, thanks to its wide video catalog that includes access to live cable TV channels at no charge to consumers. The service makes most of its revenue through ads, and it counts India as its largest market, competing largely with YouTube and Disney’s Hotstar.
Why does Amazon want to buy MX player?
The acquisition of MX Player would help Amazon compete aggressively for a slice of the Indian video market. In recent years, Amazon has deployed over $7 billion in India and has been offering Prime Video subscription (and Prime membership) at cut-rate prices in the country.
It also maintains a free, ad-supported video streaming service in the country. In contrast, Google’s YouTube dominates the video market in India with about half a billion monthly active users in the country, while Prime Video and Netflix have fewer than 40 million monthly active users in the country.
Other companies owned by MX player parent company?
Times Internet is a subsidiary of Bennett Coleman and Company, which operates more than three dozen properties, including English daily Times of India, news outlet Indiatimes, business paper Economic Times, and advertising arm Colombia.
In recent years, it has moved to sell off many businesses, including edtech offering GradeUp and restaurant tech platform Dineout, as the group prepares for a major restructuring. The acquisition of MX Player by Amazon would not only mark a significant development for India’s video market but also signal the consolidation of the industry.
Who was the founder of MX player?
MX Player was founded by J2 Interactive, a Korean company that developed the MX Player app in 2011. The app was later acquired by the Times Group’s digital arm, Times Internet, in 2018.
Why MX player is famous in India?
MX Player is famous in India for several reasons. One of the main reasons is that it is a versatile video player that supports a wide range of video formats, making it compatible with many Android devices. It also offers a large collection of movies, TV shows, and other videos in various languages, including regional content that caters to the diverse Indian population.
Moreover, MX Player offers a range of features that make it easy and convenient to use. For instance, the app allows users to adjust playback speed, set subtitles, and control playback with gestures. It also supports picture-in-picture mode, which enables users to watch videos while performing other tasks on their phone.
Another factor that has contributed to MX Player’s popularity in India is its availability as a free app. The app makes most of its revenue through ads and offers its wide video catalog, including live cable TV channels, at no charge to consumers. This has made it accessible to a wide range of users across the country.
In recent years, MX Player has expanded into original content and short-video formats, which has further cemented its position as one of the leading on-demand video streaming services in India.
What are the famous web series on MX player?
Aashram, Raktanchal, Bhaukaal, High, Dangerous, Thinkistan, Queen, Chakravyuh, Samantar, Hey Prabhu, Flames, Mastram, Aani Kay Hava, Official CEOgiri, Thinkistan 2 . These are just a few examples, as MX Player has a diverse collection of web series that cater to various tastes and interests.
Samridhi holds a Bachelor’s degree in Economics. Her research interests lie in examining the intersection of the social sector with poverty and inequality,
Along with this she is keen in understanding the systemic and structural issues that governs growth and development with an interdisciplinary focus.