Amazon is in talks with Times Internet to acquire MX Player, one of India’s most widely used video-on-demand streaming services.
The acquisition of MX Player will be a significant step towards expanding its presence in the Indian market and at the same time increasing its own entertainment services, writes Gizmochina.
Negotiations are still in an early stage and there are at least two other companies interested in MX Player, one of which is Zee-Sony.
In recent years, MX Player has gained popularity thanks to a wide range of video formats, free access to various cable channels, stable operation even on inexpensive Android smartphones, and exclusive content.
The popular Indian app has over 300 million users. The company is valued on the market at $500 million.
Times Internet bought the service for $140 million in 2018. Later, a merger with Moj ShareChat took place, strengthening MX Player’s position as one of the leaders in the Indian market.
The fight for India between Google, YouTube and Amazon has been going on for a long time, and the acquisition of MX Player, which has 150 million active users among Indians, will significantly improve the position of the owner of Prime Video (the service has only 40 million active users in India so far).
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.