Amazon might buy India streaming app MX Player – report

Amazon is considering an acquisition of India-based streaming service MX Player, a move that would enhance the company’s streaming presence in the country, according to a new report from TechCrunch.

Sourced told the outlet on Friday that Amazon is in ongoing talks with Times Internet, which bought MX Player for $140 million in 2018. Terms have yet to be finalized and there’s a chance that negotiations may not materialize into a deal.

MX Player initially launched in 2011 as a video player, then in 2019 it morphed into an OTT platform with original programming. The company claims to have a global base of 300 million users with 200 million users in India, making it “the second largest video platform in India after Youtube,” according to MX Player COO Nikhil Gandhi.

Zee Enterprises, which is in the process of merging with Sony Pictures’ unit in India, has also expressed interest in buying the MX Player app, said TechCrunch.

For Amazon’s part, it stated last April that it aims to more than double its investment in Prime Video India over the next five years, by adding a new slate of scripted and unscripted original series.

On a global scale, the e-commerce giant recently disclosed it spent $16.6 billion last year on video and music content, including $7 billion towards originals, live sports and licensing third-party video content.

Amazon in India also operates miniTV, a free ad-supported streaming service that’s exclusively available within the country. Amazon’s primary FAST service, Freevee, is currently available in the U.S., U.K. and Germany.

India is a market that’s buzzing with streaming competition. Disney, which operates Disney+ under the Hotstar brand across India and other parts of South East Asia, reported Disney+ Hotstar had 57.5 million paid subscribers at the end of the December quarter. Disney last year vied for Indian Premier Cricket streaming rights, but lost out to Viacom18.

Netflix has a presence in India as well. The streamer in Q4 reported it added 1.79 million paid users in the APAC region, which now has a total of around 38 million paid memberships. Netflix didn't provide a breakdown of subscriber figures in India, but last October it stated average revenue per membership (ARM) in the country declined in Q3.

Paramount is also eyeing expansion in the India market, as it plans to launch Paramount+ in the country sometime this year.