MX Player, a video streaming platform owned by Times Internet, is reportedly introducing its new, paid subscription service called MX Gold, through which it will release its original series 'Cartel' on August 20th, 2021.
According to reports, MX Gold will be available for a subscription fee of less than ₹1 ($ 0.013) per day. Currently, the service is only available on Android. With this launch, Times Internet will have a presence in both the AVOD (Advertising video on demand) and SVOD (subscription video-on-demand) segments. Currently, Netflix, Amazon Prime Video, and Disney+ Hotstar dominate the Indian SVOD market.
Cartel, a story of power, politics, and vengeance, set in Mumbai, tells the tale of five crime barons based in different parts of the city.
Abhishek Joshi will spearhead the MX player Gold subscription service. Joshi was recently promoted to Business Head of SVOD at MX Player, effective April. He had joined MX Player as Head of Marketing & Business Partnerships in October of 2018.
MX Player is an AVOD service that provides over 100,000 hours of content including movies, web series, TV shows, music videos, news, and sports in more than ten regional languages. It also runs its paid version called MX Player Pro, which provides an ad-free video experience.
According to the ‘Future of India's Online Video Market’ report published by Media Partners Asia (MPA), SVOD services in India are anticipated to maintain their growth momentum. Along with that, the total number of D2C SVOD subscribers base is projected to increase 1.6 times to 89 million by the end of this year, and by 2026, the number of D2C SVOD subscribers is expected to reach 193 million.
The report stated further that by the end of 2021, Netflix, Disney+ Hotstar, and Amazon Prime Video will have an 80% share of the market in terms of subscribers and revenues.