We want to deliver 360-degree entertainment, says Karan Bedi, CEO of MX Player

Indian gaming market expected to reach $ 1.1 billion by 2020, according to Nasscom

For video streaming, MX Player has collaborated with content creators like TVF, Dice Media and others.

After being named the most popular video streaming app in India by San Francisco-based mobile app search company App Annie, Times Internet-owned OTT platform MX Player is upping the ante in becoming a multi-model entertainment application. The company plans to expand into gaming, music and international markets.

The other best video streaming app listed in App Annie’s report includes Hotstar, Netflix, Amazon Prime Video, and JioTV.

Karan Bedi, CEO of MX Player said HEY that the company, which launched its music streaming app six months ago, is now looking to launch games on its platform. “We want to provide 360 ​​degree entertainment,” he added.

Inc42 has contacted MX Player for more details on its new launch, however, the CEO of MX Player was not available for comment.

MX player launches into the game

According to a Nasscom, the Indian gaming market is expected to reach 628 million users and will be worth $ 1.1 billion by 2020. The report further states that among all emerging markets, India is the largest in terms of downloads with over 2.8 billion game downloads in the first half of the year. from 2018.

Bedi said 80% of MX Player users are under 35. In addition, 75% of them are men and 55% of them come from outside metropolitan cities. He further said that gambling had become mainstream in India after data and mobile penetration increased massively. “It can reach a significant scale in the years to come,” he said.

In October 2019, MX Player raised $ 110 million (775 Cr INR) from Tencent and its parent entity. At that time, the company said it would use the funds to develop original content, expand into international markets, and invest in new businesses like games. It was the first outside investment after its acquisition from Times Internet, where it acquired a majority stake for $ 144 million in Chinese mobile game company Zenjoy in 2018.

Multi-model application in preparation

The South Korea-based video player app was launched in 2011. The popularity of the app among Android users has increased and was downloaded over 500 million times in 2018.

Following the acquisition, Times Internet added Gaana-supported music streaming to its brand new MX Player avatar. For video streaming, the company has collaborated with content creators such as TVF, Dice Media and YouTube. In February 2019, MX Player launched its original web series, including Aafat, Hey Prabhu, TVF’s ImMature, Lots of Love (Tamil & Telugu), and Famously Filmfare in Netflix, Amazon Prime Video, and other OTT players. Unlike other paid OTT platforms, MX Player is free and generates revenue from digital video ads.

Currently, MX Player claims to have around 280 million monthly active users worldwide in 200 countries. In India, it claims to have over 175 million monthly active users. Its OTT platform is in beta in various countries, including the United States, Canada, New Zealand, and Australia.


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