On Wednesday 27th June 2018, a Times Group company, Times Internet has announced the acquisition of MX Player well-recognized as the world’s largest local video platform. This move comes as the group is planning to launch its own Over-The-Top video service in India. Sources confirmed this acquisition news even before company’s confirmation.
Times Internet has contributed around Rs 1,000 crore to secure South Korean video playback application with an expect to fabricate a digital-first video streaming platform. The app currently installed over 500 million devices globally. Sources stated that the app will compete with Netflix, Amazon Prime Video from leading content producers as well as publishers around the world.
CEO of MX Player, Karan Bedi said, “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.” Further, he added, “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.”
The app will offer thousands of hours of exclusive and original content from publishers around the world. The service will be available across all major platforms, starting with Android, iOS and web platforms. The service is putting resources into unique substance while concentrating on excellent separated from the authorized premium substance, be that as it may, the application intends to offer customers in excess of 20 unique shows over every one of the dialects in the first year.