TAIPEI, Taiwan–(BUSINESS WIRE)–Gentry Wilson Partners has noted that Chinese multinational investment holding conglomerate Tencent Holdings recently announced that it is planning to invest around $100 million in an Indian streaming service provider MX Player.
Gentry Wilson Partners research and analysis department noted that MX Player, an Indian global video player reaches over 350+ million users in India.
The Chinese social media giant has had an active part in providing a flourish of investments within movies, television series and other content in a bid to increase its client base.
“The MX Player investment offers the company a broad reach into India a fast-growing economy. At present India’s content streaming market has been projected to grow at an unprecedented rate of 22% by 2023.” Commented Tony Lawson, Director of Private Clients at Gentry Wilson Partners.
Indian e-commerce payment system Paytm reported that there were over 5.5 billion transactions alone in the year ending March 2019. MX Player’s 30 million users add offerings such as food delivery services and other e-commerce financial solutions. These transactions equated to over $50 billion in gross value.
“India is currently the fifth largest economy globally in 2019, and analysts suggest it will be the 2nd largest in the APAC region by 2025. Tencent’s investment in India is seen as a strategic move to develop its current business models into India. Using MX Player will offer a huge head start.” Said David Ferguson, Director of Institutional Trading at Gentry Wilson Partners.
A large amount of interest was generated and multiple companies have tried to take a piece of India’s most successful online video player.
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