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    In further consolidation of the Indian streaming market, Amazon acquires key assets of streaming platform MX Player

    Amazon agreed to acquire key assets of the streaming service MX Player, as per a report by TechCrunch. The deal values MX Player at $100 million (roughly Rs. 834 crores) and is expected to move many of MX Player’s top executives to Amazon. An unnamed source familiar with Amazon’s strategy told TechCrunch that through this deal, Amazon would get a distribution and marketing partner which can help make it more popular and trustworthy to audiences in smaller Indian cities and towns. 

    Developed by a South Korea-based app publisher J2 Interactive, MX Player was launched in 2011 and then in 2018, it was acquired by Times Internet for Rs 1000 crore. According to its website, the platform focuses on original content, emphasizing Hindi and regional languages. It claims to have 50,000 hours of content in languages such as Malayalam, Tamil, Bengali, Punjabi, Bhojpuri, and Kannada. With this acquisition, Amazon would expand the catalog of regional content it offered to Amazon Prime Video viewers. 

    Amazon has also made previous attempts to expand its content catalog. According to a Business Today report, in 2021, it signed a distribution agreement with eight streaming platforms labeling them as “Prime Video Channels.” This included regional content platforms HoiChoi and ManoramaMAX, an attempt to establish itself as a video entertainment marketplace. 

    Consolidation of streaming services in the Indian marketplace:

    Besides the acquisition of MX Player, the joint venture by Reliance and Disney India is another major recent consolidation within the Indian streaming space. Announced in February this year, this joint venture between Reliance Industries Limited (RIL), Viacom18, and Disney grants Reliance exclusive rights to distribute Disney films and productions in India, with a license to more than 30,000 Disney content assets.

    Sony Pictures and Zee Entertainment had also planned to merge their assets and announced the deal in 2021. While Sony ended up issuing a terminating notice to Zee this January, the deal would have brought together over 70 TV channels, two video streaming services (Zee5 and SonyLiv), and two film studios (Zee Studios and Sony Pictures Films India). 

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    The post In further consolidation of the Indian streaming market, Amazon acquires key assets of streaming platform MX Player appeared first on MEDIANAMA.

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