MX Player originates from Korea and has kind of exploded in the subcontinent country of India. The application gave something the Indians were looking for. It was previously used to view content from SD cards and there was no such application that played files from different platforms on mobile phones. That made the company big in India. The application is hugely popular in India and works on the lines of what it is meant to be even now.
However, there were other plans the company was trying to explore. The over the top platforms in India are booming like anything. There are a lot of companies foraying into this market. Everyone wants a huge chunk of the market share and people with money are trying to grab content from every nook and corner possible. Not only that, but the companies are also trying to create their own content. The artists, meanwhile, are having a hay day as there are jobs out there for almost everyone.
MX Player is also trying to enter this market and is looking to expand and ensure that they have a market share in this thing. That said, the company is trying to win over the market with their own content as well. MX Player was bought by Times Internet recently for a staggering $140 million. Their view was to enter the OTT market and they are finally doing it without any hesitation. MX Player has a lot of things to offer.
The company which originates from Korea has partnered with a lot of Indian companies and content makers. It has TVF, Arre, Alt Balaji, and many more companies for the same. MX Player will borrow content from these content creators and have promised to bring more than a hundred thousand hours of watchable shows, movies and everything related to it on the app. The company has also created a few originals which will be coupled with the borrowed content. This has been the trend for all the OTT platforms. Borrow the majority of content and make a few originals.
The path followed by all these companies is similar to what Netflix did in its early years. However, MX Player is going to make their services available for free to all its users. All the OTT platforms out there are paid services. They need to be paid for but MX Player feeds of advertisements are going to call their plan a freemium plan. This is how they will attract customers.
This is a very good strategy to disrupt the market. However, everything depends on the content. Netflix is extremely popular because of the content it offers. There is no rocket science to it and you cannot woo your audience with discounted packages as people want to be entertained and only good content can do it. Unlike e-commerce where the product is the same but pricing is different, here is the product is everything, if it is a hit, your platform is a hit.
This is how MX Player will and should look to bring the audience to its platform. Any which way, the company has 175 million daily users while it has around 300 to 500 million downloads in this country itself.