Amazon is reportedly in talks with Times Internet about acquiring MX Player, one of India’s largest on-demand video streaming services, as the American e-commerce giant looks to expand its entertainment ambitions in the key overseas market.

MX Player was one of the first video apps to expand into the short-video format, capitalizing on an opportunity created by New Delhi’s decision to ban TikTok in the country in mid-2020. They eventually merged with ShareChat’s short video offering Moj in a $900 million deal.

MX Player has gained widespread adoption in markets such as India, thanks in part to its extensive video catalog, which includes free access to live cable TV channels.

The majority of the revenue of MX Player comes from advertisements.

According to reports, the discussions are still ongoing and may not result in a deal. The deal’s terms have yet to be finalized. The discussions are noteworthy for MX Player, which was purchased for $140 million by the Indian conglomerate Times Internet in 2018. The video app, which is popular for supporting a wide range of video formats and reliability on low-cost Android smartphones, has recently expanded to the original content and has more than 300 million users worldwide.

Also read:

source