The news: Amazon has acquired Indian ad-supported streaming service MX Player for $100 million. The streamer will be merged with Amazon miniTV (an India-only video service), becoming Amazon MX Player.
Amazon first expressed interest in MX Player in February 2023 as it sought to make further gains in the Indian streaming market. Times India previously acquired MX Player for $140 million in 2018.
MX Player’s value: Despite the lower acquisition cost against its previous buyout, MX Player is a major streaming service in India that will help Amazon gain share in the highly competitive and tough-to-penetrate market.