South Korea-based video platform MX Player, recently acquired by Times Internet Ltd, has appointed KidZania India’s former marketing chief Viraj Jit Singh as its senior vice-president and revenue head. KidZania India operates an indoor theme park.
Singh has over 19 years of experience in sectors such as broadcasting, entertainment and amusement parks. He has been responsible for revenue generation, communication and marketing strategy for brands such as Viacom18 Media Pvt. Ltd., KidZania India, ESPN Star Sports and Reliance Broadcast Network.
“The over-the-top (OTT) space has witnessed tremendous growth in the past few years and I look forward to applying my diverse skill set to strengthen MX Player’s position in the market,” said Singh, adding, “The company has aggressive and exciting plans to reach out to a large consumer base and I am eager to working with the dynamic team and contribute to its rapid growth.”
MX Player, which is developed by South Korea-based application developer J2 Interactive, has over 350 million Indian consumers, of which 175 million are monthly users. The world's largest local video platform offers video playback capabilities and claims to have an installed base of over 500 million worldwide.
In June this year, Times Internet Ltd, the digital business arm of media conglomerate Times Group, had acquired MX Player for Rs 1,000 crore (around $147 million). It will build a video streaming service on top of the existing platform and develop local content in a bid to rival the likes of Netflix, Hotstar and Amazon Prime Video.
Times Internet’s parent Bennett Coleman & Co. Ltd (BCCL) runs market-leading newspapers The Times of India and The Economic Times as well as TV news channels.
Times Internet had set an ambitious target of achieving $1 billion in revenue by March 2022 and had previously said it would seek out the inorganic route for growth and explore big-ticket acquisitions.