The app has launched the so-called "one of the largest single original content libraries on the digital platform," which includes various types of content, such as romance, horror, drama, reality shows, etc. In 2018, the company pivoted to video streaming while keeping its original features. With a strong user base of over 175 million active users in India, MX Player was once primarily used to play offline videos. Before Tencent and Paytm showed their interests to MX Player, the company has already expanded its footprints in the streaming service field.
According to Bloomberg, Tencent is partnering with Indian digital wallet provider Paytm to jointly invest $100 million in streaming app MX Player.Īs a prominent Android video player app around the world, MX Player has been ranked in the top 10 in Indian Google Play Store for some time. The streaming media industry is on the rise in India, with Netflix, Amazon and Disney all stepping into this emerging market.Ĭhinese Internet titan Tencent, the owner of WeChat, also presents its appetite for a piece of the South Asian country's burgeoning online video market.
Tencent and Paytm to Invest in an Indian Video Startup With a Chinese BackgroundĬhina's tech firm Zenjoy provides technical support for MX Player. Tencent and Paytm to Invest in an Indian Video Startup With a Chinese Background - PingWest English 中文Ĭlose Tencent MX Player Streaming Service OTT India video player