Most of the Android users around the world, especially in India, must have heard about MX Player. If you haven’t, it is a media player app for Android which supports almost all types of music. Now, one of the famous Indian media houses has brought this application at a valuation of Rs. 1000 crores.
The reason for the purchase by Times Internet group is because they are entering the over-the-top or OTT video streaming sector. Now, there are already major players like Netflix, Hotstar and Amazon Prime so MX Player’s massive user base will definitely help Times Internet Group.
Talking about the numbers of this user base, MX Player has 350 million users in India alone out of which 175 million use it every month. This number is so big that currently, no other OTT service has this amount of monthly users on its platform. Times Internet CEO also stated that 80% of MX Player users are below the age of 34 which will be a massive boost for OTT service.
However, it is worth noting that the global users of MX Player exceed the 500 million mark as well. This application was developed by a South Korean developer named J2 Interactive.
It is also known that MX Player will start to offer thousands of hours of premium, exclusive, and original content from leading producers and publishers all over the world. This will obviously be targeted on the users of younger age primarily. This also means that the official entry of MX Player in OTT sector is coming very soon.
Also known is the fact that Times Internet plans to make this services available to its users by next quarter on Web, Android, and iOS. Also, the OTT services of MX Player will have most of its focus set on regional languages as well as India’s national language, Hindi.