India's Times Internet Confirms MX Player's Acquisition - MobileAppDaily
Mobile App

India's Times Internet Confirms MX Player's Acquisition

MX Player app has consistently ranked at the top.

https://dk2dyle8k4h9a.cloudfront.net/India\'s Times Internet Confirms MX Player\'s Acquisition

Times Internet, the digital arm of the Times Group, has acquired video playback app, MX Player in a deal worth $144 M (INR 1,000 Cr). The South Korea-based video platform is a free media player that is installed on over 500 million devices globally and known to support a substantial number of video formats.

Earlier this year, there was a thin air about the agreement though nothing significant was made out of it. But now, with the confirmed acquisition, Times Internet has cleared its intention to test waters in the OTT video service.

Times Internet has acquired a majority stake in the MX Player app and further intent to build a digital-first video streaming platform for its strong 350-million user base. The move will help Times Internet to gain a strong foothold in India’s booming video OTT (Over the top) space.

“MX Player will revolutionize digital entertainment in India. Our audience wants premium entertainment content, built for India’s youth, in their language, with compelling stories and movie-quality production,” said Karan Bedi, CEO of MX Player app. “With our experienced team of storytellers, an exceptional technology product, and the support of the Times Group, we will play a vital role in transforming the sector and create new milestones in Indian content.”

MX player

With a lot of premium and exclusive content, MX Player app will compete with the likes of Amazon Prime Video, Netflix, Hotstar, and Voot.

MX Player app is one of the best video players that is supported over various platforms and has ranked among the top 10 Android apps since 2012. Currently, the media player is available across Android, iOS, and the web.

Gautam Sinha, Times Internet CEO, said about the acquisition, “With over 400 million internet users in India, India presents one of the biggest digital entertainment opportunities in the world. And yet today, the most content available is either user-generated or repurposed from broadcast television. We are building a content experience with the quality of mainstream media, but designed specially and exclusively for Indian millennials that are digital-first.”

As per a media report, MX Player app is presently investing in original, premium, digital-first content, focusing on Hindi and regional production. Initially, the company has planned to release more than 20 original shows and around 50,000 hours of premium content.

MAD Team
Written By
MAD Team

MobileAppDaily host a team of experienced technical writers, industry wizards, and app experts who have an exact knack of content that caters to the needs of the mobile app targeted audience. We strive to bring you the best of tech!

Top Companies

InMobi
Singapore
Dot Com Infoway
New York, USA
M&C Saatchi Mobile
New York City, USA
Techmagnate
New Delhi, India
Fetch
London, UK
View full report

Latest Articles

Join our global community 135K Followers
Mobile App

Video App Roposo Raises $10M From Series C Funding

MAD Team 4 min read  

Indian multilingual video app, Roposo, has successfully raised $10 million in Series C funding, which adds on to its total funding of $31 million so far. Roposo is a Gurgaon based company which got the backing from returning investors Tiger Global and Bertelsmann.Interestingly, Tiger Global is t

Mobile App

Everything You Want To Know About E3 2018

MAD Team 4 min read  

The most significant event in the gaming industry, E3 (Electronic Entertainment Expo) is going to be concluded today in Los Angeles. The event was scheduled from June 12 to June 14.From Assassin's Creed Odyssey to Netflix deal with Minecraft and from Super Smash Bros to FIFA 19, E3 stays to

Mobile App

Opt for Wonderful Mobile Apps to Monitor Your Daily Life

MAD Team 4 min read  

Today, there are many apps that act as your lifeline because of keeping your life well-organized and stress-free by keeping track of expenses and logging receipts to name a few. There is no exaggeration in saying that app stores are equipped with a wide assortment of mobile apps and thus, which one

Mobile App

Google Keep Vs. Evernote: Clash Of The Top Productivity Apps

MAD Team 4 min read  

Nowadays, mobile and web apps are referred to as the backbone of any device like smartphones, tablets, desktops etc. And without apps, we may find ourselves back in the stone age. From favorite shooting games to cab-booking apps and from food delivery apps to basic reminder apps, there are a number