On the 28th of June, there was an announcement from the Times Internet Limited that they have acquired a majority stake in the J2 interactive which is a South Korean company for an amount of $140 million. The entire group of Times Internet Limited has acquired 60% stake in the Korean firm because of which it owned MX player, which is one of the most popular app which is used by the mobile user to watch video in India.
It is said to be as one of the biggest business acquisition ever by the digital arm of the Times group. The deal which was working from around 9 months has been closed on 27th of October 2017.
In the few days there is going to be a splash as there are lots of big plans which are going to be made by the company to make their space into the video watching part. In a few weeks, MX player which was mainly focus on the offline video player only is now going to be a full fledged video streaming app.
The beta version of th app has already been for the users on the Google Play Store and was picked up by the Press on the last Saturday. The company has a plans to provide with the original videos which is more focused on the Hindi version of it and in some of the other regional languages.
“Over 20 original shows are planned for the first year across Hindi and regional languages like Tamil, Telugu, Marathi and others,” Karan Bedi, the CEO of MX Player told in an interview.
MX Player was for the most part a disconnected application that bolstered different video designs on Android telephones. In India, when information was rare, individuals imparted recordings to each other utilizing Bluetooth or had melodies and recordings stacked at portable revive shops. MX Player could deal with almost any arrangement tossed at it thus it was unfathomably mainstream among these clients from littler towns and urban areas. Be that as it may, things have changed at this point. Information has turned out to be shabby after the dispatch of Jio and video utilization has experienced the rooftop in India. This has helped fuel the development of organizations, for example, Hotstar and YouTube.
“Right now, users get content from third-party sources to watch on MX Player. Can we enhance that experience? We’re not messing with what you use MX Player for. But here’s an entire library of stuff, both licenced and original content, that we are working on,” says Bedi, an economics graduate from Stanford who took over as CEO of MX Player in September 2017.
It has been estimated that by the end of the March 2019, MX player is going to have 172 million active users and 65 million daily active users in India itself.