Will Amazon be able to buy Indian Streaming Service MX Player?
0In the midst of tech acquisitions and mergers happening worldwide, Amazon is reportedly in discussions with Times Internet to acquire MX Player, one of India’s most widely-used on-demand video streaming services. As the e-commerce giant continues to expand its entertainment offerings, the acquisition of MX Player would be a significant step towards increasing its presence in the Indian market.
However, it’s worth noting that the talks are ongoing and may not result in a deal. Additionally, there are reportedly at least two other interested parties, including Zee-Sony.
MX Player has seen significant growth in recent years, with its popularity driven by a wide range of video formats, reliability on low-cost Android smartphones, and original content offerings. The video app boasts over 300 million users globally and is particularly popular in India. The reason for MX Player’s hype is a wide video catalog that allows its users access to live cable TV channels at no charge whatsoever. Instead, the service makes most of its revenue through advertisements.
The acquisition is an interesting development for MX Player, which was acquired by Times Internet for $140 million in 2018. The video streaming service has since merged with ShareChat’s Moj in a deal worth $900 million, solidifying its position as one of the leading players in the Indian market.
As Amazon seeks to compete with Google‘s dominant video service, YouTube, in India, the acquisition of MX Player would provide a significant boost to their efforts. Despite YouTube‘s commanding presence with over 500 million monthly active users, Amazon is making strides with its Prime Video subscription and ad-supported video streaming services, which have fewer than 40 million monthly active users in the country.
MX Player is valued at $500 million and claims to have over 150 million active users in India, making it a valuable acquisition for Amazon as it continues to make inroads into the Indian video market.