Online major Amazon has signed an agreement to acquire some assets from the Times Internet-owned streaming platform MX Player, it said on Thursday. The deal, which is yet to conclude, values MX Player at around Rs 800 crore, industry sources said. The deal is expected to boost Amazon’s streaming ambitions in India, a crucial market for its future expansion, due to the rising digital video adoption by consumers. MX Player has a strong presence in smaller towns and cities and is expected to bolster Amazon’s push into rural areas.
The online major has been in discussion to acquire MX Player, a key player in the country’s ad-supported streaming space, since early 2023. Amazon called off the deal around July 2023, but resumed talks again in recent months, persons in the know said. Amazon currently operates a subscription-based streaming service called Prime Video that is bundled with its Amazon Prime subscription service, as well as a free ad-supported streaming service called miniTV. The miniTV service allows consumers to watch short films, web series and television shows across multiple languages and genres. People spend about 45 minutes per session watching content, the company said earlier.
