The Times Group has acquired the MX Player platform for a whopping 1000 crore and it’s no wonder. Homegrown content companies are looking to gain a foothold on the OTT market and it makes sense for the media behemoth. MX Player is a very popular mobile viewing app in India and Times Internet seems to be trying to build a digital first video streaming service on its user base. MX Player was one of the first mobile viewing apps and Indian audiences lapped it up.
Now, it has more than 400 million user bases in India. The company plans to launch about 20 original shows and more than 50000 hours of content. This is the first time that an app that was only used for playing content will become a streaming platform. The other video playing app that’s popular all over the world is VLC Player.
Basically, MX Player became famous because Indians began consuming more content on their mobile devices and there weren’t many native apps on mobile devices. It is interesting to see how MX Player has evolved through the years into a streaming platform. Right now, MX Player has competition with Netflix, Amazon, ALTBalaji, Hotstar and Voot in the Indan disaspora.