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Amazon merges MX Player with miniTV to expand ad-supported streaming | Mint

LivemintLivemint · 9m ago
Amazon merges MX Player with miniTV to expand ad-supported streaming | Mint
Medial

- Amazon has acquired select assets from MX Player, including the MX Player app, to merge it with Amazon miniTV to create Amazon MX Player. - MX Player was initially acquired by Times Internet in 2018 for ₹1,000 crore as an ad-supported video streaming app, but has faced financial challenges. - The acquisition is expected to boost Amazon's advertiser video-on-demand (AVoD) business. - Amazon miniTV is known for its original shows and will continue to invest in originals and returning seasons. - The integration of MX Player will provide advertisers an opportunity to deepen their relationships with viewers. - MX Player was originally developed as a media player for downloaded videos.

Amazon says it has purchased some assets of MX Player, not entire company

EntrackrEntrackr · 1y ago
Amazon says it has purchased some assets of MX Player, not entire company
Medial

Last week Entrackr reported that Times Internet-owned MX Player is very close to getting acquired by Amazon. The e-commerce giant has now confirmed that it has acquired some assets of MX Player. Entrackr understands that Amazon has signed an agreement to purchase some assets from MX Player. The transaction, however, isn’t completed yet. “We are always looking for ways to introduce new products and services that help improve customers’ lives. We’re excited to continue to entertain India with the great local originals and exclusive content available across our Prime Video and miniTV services in India,” said an Amazon spokesperson in a response to Entrackr queries sent on May 29. As mentioned above, Entrackr had reported that Amazon was close to acquiring MX Player and the contours of the deal have been chalked out. Sources had outlined that potential transaction is a distress one and valued MX Player in the range of $50 million. Sources also asserted that the MX Player team will join Mini TV and its chief executive officer Karan Bedi is likely to join as director. Amazon, however, didn’t comment on specific queries related to the management rejig and merger with its existing services. That said, Amazon’s official stand implies that the company is indeed looking to integrate MX Player’s content IP with Mini TV and Amazon Prime. Though, its emphasis on not acquiring the entire company suggests that it doesn’t want to cover liabilities and other sides of MX Player’s business. In case you didn’t know, MX Player is owned by MX Media which also used to operate short video entertainment app MX TakaTak. The TikTok-like platform merged with Google-backed ShareChat in February 2022. Times Internet hasn’t responded to our queries sent to them last week.

Amazon India set to buy MX Player in a distress sale

EntrackrEntrackr · 1y ago
Amazon India set to buy MX Player in a distress sale
Medial

Amazon appears to be very close to acquiring Times Internet-owned MX Player, according to three sources aware of the discussions. This is Amazon’s second attempt at snagging the video streaming platform and this time it looks like the deal is almost finalized. “Amazon India has been in late-stage talks to acquire MX Player in a distress sale,” said one of the sources requesting anonymity as talks are yet to be public. “The contours of the deal have been chalked out and Amazon has offered a term sheet to MX Player.” Amazon India had also held discussions with the Times Internet-owned firm in March last year but the talks fell through by July 2023. Times Internet had acquired MX Player in a $140 million deal in January 2018. According to sources, the two companies began fresh discussions in February this year. “MX Player team will join Mini TV and its chief executive officer Karan Bedi is likely to join as director,” said another source who wished not to be named. The acquisition will strengthen Amazon’s Mini TV operation in India, said sources. “The size of the deal is around $50 million,” added the person quoted in the beginning of the story. MX Player is owned by MX Media which also used to own short video entertainment app MX TakaTak. MX TakaTak merged with Google-backed ShareChat in February 2022. Later, ShareChat shut down MX TakaTak after transitioning the users into Moj. The Ankush Sachdeva-led firm also wrote off its investment in MX TakaTak. Queries sent to Amazon and MX Player did not elicit an immediate response. If the deal goes through, MX Player will be the sixth subsidiary from which Times Internet would have taken an exit in the past three years. The Gurugram-based company sold MX Takatak in February 2022 while DineOut was acquired by Swiggy in May 2022. E-commerce roll-up unicorn Mensa acquired MensXP, iDiva, and Hypp from Times Internet in December 2022. Times Internet has also been looking to sell its music streaming platform Gaana and held talks with Airtel Wynk but the discussion didn’t go through.

Amazon Prime Video plots Hollywood expansion

Economic TimesEconomic Times · 11m ago
Amazon Prime Video plots Hollywood expansion
Medial

Mike Hopkins, the head of Amazon Prime Video, has transformed the streaming service into a major player in the entertainment industry. Under his leadership, Prime Video has expanded its original programming, sports offerings, and advertising capabilities. With partnerships with top stars and exclusive sports content, Amazon aims to attract a larger share of the digital advertising market from traditional television. While it still trails behind industry leaders Netflix and YouTube in terms of streaming viewership, Amazon's ambitions in creating a comprehensive entertainment destination are becoming clearer. The company plans to increase its theatrical releases and invest in diverse content that appeals to a wide audience.

Amazon leans into video in emerging Europe's online marketplace fight

ReutersReuters · 1y ago
Amazon leans into video in emerging Europe's online marketplace fight
Medial

Amazon and Chinese company Temu are both targeting Poland's online marketplace leader, Allegro, with different strategies. Amazon plans to invest in video streaming, producing more original Polish-language shows for its Prime Video service. They also see growth potential in the Central and Eastern European region as a whole. Meanwhile, Temu has gained market share in Poland through low-cost fashion offerings. Although Allegro holds a strong position due to loyal customers and a wide range of services, Amazon and Temu pose potential threats with their different strategies. Allegro plans to expand to other countries in the region, while Amazon and Temu continue to compete for market share.

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