- Amazon acquires key assets of Indian streaming service MX Player in a sub-$100M deal.
- The move aims to boost Amazon’s popularity in smaller Indian cities and towns.
- Reliance and Disney currently dominate India’s streaming market.
Amazon’s masala move
Amazon has spiced up its Indian streaming strategy by acquiring key assets of MX Player from Times Internet.
The deal, sealed on Wednesday, values MX Player at less than $100 million, a far cry from its previous $500 million valuation. While not gobbling up the entire firm, Amazon will welcome many of MX Player’s top executives post-transaction.
After two years of deliberation, Amazon and MX Player have found their perfect match. MX Player brings a distribution and marketing partner that can help Amazon’s e-commerce platform gain popularity and trust in smaller Indian cities and towns.
Amazon has been expanding its video streaming offerings in India, including budget-friendly Prime subscriptions and telecom partnerships.
Reliance and Disney: the reigning rajas
Reliance and Disney currently rule the Indian streaming market, with a combined 55% share of monthly active users.
MX Player held a respectable 15%, while Netflix and Prime Video each claimed a modest 3-5% slice.
- Credit: UBS / Data: UBS and Sensor Tower
With MX Player’s assets in its arsenal, Amazon is poised to shake up the competitive Indian streaming scene.
