MUMBAI: Another ambitious player with deep pockets is set to enter the burgeoning OTT space in India. Times Internet is going to launch a revamped version of MX Player on 20 February. Sources close to the development revealed the information to Indiantelevision.com. Reportedly, Times Internet invested more than Rs 1000 crore to acquire majority stake in the Seoul-based local video player.

With this launch, Times Internet will bet in the OTT segment for the second time. Earlier, in September 2016, the company had pulled down the shutters on its video OTT app Box TV. Soon after it bagged the MX Player deal.

Like many other OTT platforms, MX Player also wants to tap the millennial audience, the age group of 18-35. Despite the mushrooming digital platforms and abundant content, young India is hungry for more which makes the play easier for new entrants.

“We are understanding their specific need states and making sure that the programming is aligned to satisfying those need states via our original programming and curated licensing strategy,”  MX Player content head Gautam Talwar said in an interaction with Indiantelevision.com earlier. He also added that the OTT platform will enter the market with at least five to six premium shows.