Seattle, WA & New Delhi, India – June 8, 2024 – In a move to strengthen its presence in the booming Indian streaming market, Amazon has acquired key assets of MX Player, a popular Indian video streaming platform owned by Times Internet. The financial terms of the deal have not been officially disclosed.
MX Player, known for its user-friendly interface and ability to play a wide range of video formats, boasts a large user base in India. This acquisition allows Amazon to tap into MX Player’s established market share and potentially expand its own streaming service, Amazon Prime Video, in the region.
“We are always looking for ways to introduce new products and services that help improve customers’ lives,” said an Amazon spokesperson. “We are excited to continue to entertain India with the great local originals and exclusive content available across our Prime Video and miniTV services in India.”
While Amazon has acquired key assets, it’s important to note that reports suggest the company did not acquire the entire MX Player platform. This means the future structure and operations of MX Player itself might be subject to change.
Analysts believe this move could trigger further consolidation in the Indian streaming market, which is witnessing fierce competition from domestic players like Hotstar and JioTV, along with international giants like Netflix.
Here’s what we know so far:
- Amazon has acquired key assets of MX Player, not the entire company.
- The specific assets acquired haven’t been officially disclosed.
- The financial terms of the deal haven’t been made public.
- The future structure and operations of MX Player itself are uncertain.
This acquisition is expected to have a significant impact on the Indian streaming landscape. It will be interesting to see how Amazon integrates the acquired assets with its existing services and how this move shapes the future of the Indian streaming market.
