MX Player, the latest competitor in the Indian video streaming market, is steadily forming into the topmost league. Unlike Television, users can view new videos, new shows, or new movies anywhere and anytime using their mobile phones. Earlier MX Player is an Offline video player and it was one of the most popular video players in the world.
In mid-2018 Times Internet (the digital arm of the Times Group, the largest media conglomerate in India) bought an MX player for $140 million from South Korea-based company J2 Interactive. The OTT service, currently available only in India, will soon be launched in the US, Canada, Bangladesh, etc.MX Player launched the OTT segment in February 2019 claims that it has around 175 million monthly active users in India and over 275 million monthly active users worldwide.
In October 2019, MXPlayer raised $110 million in a fresh funding round from Chinese Internet giant Tencent and Times Internet to improve its product and technology offering, etc.the company already launched 15 original shows and plan to launch more shows by 2010.MXPlayer also partnered with SonyLIV, Applause, HoiChoi, SunNxt, TVF, Radio Mirchi, Dice Media, and Arre as a user can stream their show in MX player.
Typically MX Player creates a show in Hindi and then dub it into Tamil, Telugu, With Queen series recently aired in OTT Platform they entered into the south India market with a powerful presence. On the back of Queen’s success, MX Player will expand more original content not only in South India but also in Marathi, Bhojpuri, etc. Still, the company has to compete with several notable OTT players Alt Balaji, SUN NXt, Zee5, ViuIndia, etc. According to the statement, OTT Market is predicted to gain from 180 million in 2019 to 320 million by 2022.