Popular Android app MX Player gets bought for $140M; get ready for change

[Ink]

Content source

https://techcrunch.com/2018/06/27/times-internet-buys-mx-player-for-140m/?guccounter=1

Times Internet, the digital arm of Indian media firm Times Group, is getting into the digital content space, but not in the way you might think.

The company’s previous venture — an OTT called BoxTV.com — shut down in 2016 after an underwhelming four-year period. Now it is taking a radically different strategy by buying video playback app MX Player for Rs 1,000 crore, or around $140 million. The company didn’t disclose its stake but said it is a majority percentage.

The service originates from Korea but it has become hugely popular in India as a way to play media files, for example from an SD card, on a mobile device. It is a huge hit India, where the app claims 175 million monthly users — while the country accounts for 350 million of its 500 million downloads.

From here, Times Internet plans to introduce a streaming content service to MX Player users which Karan Bedi, MX Player CEO, expects to go live before August. The plan is to introduce at least 20 original shows and more 50,000 content across multiple local languages in India during the first year. The duo said the lion’s share of that investment money would go into developing content.

Bedi, a long-time media executive who took the job at MX Player eight months ago, said the service will be freemium and very much targeted at the idea of providing an alternative to television in India.

 

[SumTingWong]

$140 millions. Rich people have nothing to do good than doing stupid thing. You can change a lot of people lives with that amount of money. Heck, all you need is $10 million to change a lot of people lives.

 

[Deleted member 178]

MX Player is the best android video player, i use it since my first android phone, if remade and marketed properly, it may gives good incomes.