Times Internet (TIL) has purchased video platform named MX Player for ₹1000 Crore. Gautam Sinha, the CEO of Times Internet mentioned that the aim behind this is to build a content experience. The experience will be occupied with the quality of mainstream media. It will be targeted solely for Indian millennial that is essentially a digital-first. Times also mentioned that MX Player is putting great effort into original, digital-first based content. Here, the emphasis is laid on Hindi as well as regional production. The deal’s benefit is that MX Player will present thousands of hours of exclusive and original content.
Times Internet (TIL) has recently acquired MX Player for over ₹1,000 Crore. TIL is the digital venture of the Times of India group, recognized globally. The deal was a part of the TIL’s plans to come into the video over-the-top (OTT) space. This company has installed more than 500 million devices worldwide. MX Player is investing into first-class, original, and digital-first content. It lays emphasis on topmost quality Hindi as well as regional production.
The view of Times Internet CEO regarding the deal:
Gautam Sinha, the chief executive officer of Times Internet stated about the opportunities of the deal. In this regard, India presents one of the largest digital entertainment opportunities in the entire world. The reason is it has more than 400 million Internet users. The CEO mentioned that the company is putting up a content experience. It will keep in mind the majority media. The deal will target particularly to digital-first Indian millennial.
The MX Player platform will launch over 20 original shows. Users will get the benefit of 50,000+ hours of premium content in different languages. MX Player will sustain to support the existing offline video playback features. There will be no changes in these features.