24 January 2018, India:
According to The Ken report, Times Internet has acquired majority stake in MX Player for about $200 million. It is an all-cash deal.
This acquisition will help Times Internet to launch its Over The Top (OTT) Video Service. The OTT Video Service is expected to launch in coming months.
According to AppAnnie, MX Player has been downloaded by 63.3 million Android users in India. The app has been ranked among top 10 apps in India on Google Play Store. MX Player is also popular in countries including Iran, Bangladesh, Pakistan, Sri Lanka.
MX Players supports multi-core decoding. You can get fine video quality with small file sizes with the help of multi-core decoding.
According to The Ken, Currently Times Internet is testing its OTT app on a different version of MX Player, MX Player Online 2018 (beta). Karan Bedi will be the head of all the operations of OTT app.
Times Internet is internet subsidiary of the Times of India Group. The internet subsidiary has a huge presence on web and app ecosystems in India. The Times of India Group manages some big newspapers and news websites of India.
These days,Indian OTT space is hot. Hotstar, Amazon Prime, JIO TV,Netflix, Voot, OZee, Spuul are present in Indian OTT space. The competition in OTT space is going to be more tough tough. Facebook is planning to launch an OTT service. And e-Commerce giant Alibaba has announced that it is going to launch its own OTT service. It will be interesting to watch the competition in Indian OTT space after the launch of Facebook and Alibaba’s OTT service. Currently, Hotstar holhs the top spot in Indian OTT space.
(Image – Awards Kyoorius, DroidViews)