This web app uses cookies to compile statistic information of our users visits. By continuing to browse the site you are agreeing to our use of cookies. If you wish you may change your preference or read about cookies

close

Why MX Player's Business Model is so successful?

Get all the answers


MX Player’s Company Overview


MX Player is a renowned global entertainment platform that offers both video playing and streaming services. Founded in South Korea in 2011, it has grown to become a market leader in the entertainment industry, revolutionizing the way people consume digital content. MX Player supports a wide range of codecs, making it a versatile platform for video playback. In addition to playing local video files, MX Player also provides users with access to a vast library of premium digital content, including movies, TV shows, web series, music videos, and more. The platform is available in multiple languages, catering to a diverse global audience. Business Model: MX Player operates on a freemium business model, which means it provides basic services for free while charging for premium features. Users can watch certain content for free, supported by advertisements, but for an ad-free experience or to access exclusive content, they need to subscribe to the premium version. MX Player also features an integrated user interface that supports subtitles, advanced hardware acceleration, and multi-core decoding. This gives it an edge over other players in the market, as it can cater to a wide range of user requirements, from casual viewing to professional use. Revenue Model: MX Player primarily generates revenue through two streams: advertising and subscription fees. The ad-supported model allows businesses to advertise their products or services on the platform, reaching a wide audience. These advertisements are displayed during the playback of free content. On the other hand, the subscription model provides an ad-free experience and access to exclusive content for a fixed fee. This dual revenue model allows MX Player to cater to a wide range of users, from those who prefer free, ad-supported content to those who are willing to pay for an enhanced viewing experience.

https://www.mxplayer.in/

Country: Maharashtra

Foundations date: 2011

Type: Subsidiary

Sector: Information & Media

Categories: Entertainment


MX Player’s Customer Needs


Social impact:

Life changing: affiliation/belonging

Emotional: fun/entertainment, provides access, design/aesthetics

Functional: integrates, connects, variety, informs


MX Player’s Related Competitors



MX Player’s Business Operations


Cross-selling:

Cross-selling is a business strategy in which additional services or goods are offered to the primary offering to attract new consumers and retain existing ones. Numerous businesses are increasingly diversifying their product lines with items that have little resemblance to their primary offerings. Walmart is one such example; they used to offer everything but food. They want their stores to function as one-stop shops. Thus, companies mitigate their reliance on particular items and increase overall sustainability by providing other goods and services.

Advertising:

This approach generated money by sending promotional marketing messages from other businesses to customers. When you establish a for-profit company, one of the most critical aspects of your strategy is determining how to generate income. Many companies sell either products or services or a mix of the two. However, advertisers are frequently the source of the majority of all of the revenue for online businesses and media organizations. This is referred to as an ad-based income model.

Customer relationship:

Due to the high cost of client acquisition, acquiring a sizable wallet share, economies of scale are crucial. Customer relationship management (CRM) is a technique for dealing with a business's interactions with current and prospective customers that aims to analyze data about customers' interactions with a company to improve business relationships with customers, with a particular emphasis on retention, and ultimately to drive sales growth.

Customer loyalty:

Customer loyalty is a very successful business strategy. It entails giving consumers value that extends beyond the product or service itself. It is often provided through incentive-based programs such as member discounts, coupons, birthday discounts, and points. Today, most businesses have some kind of incentive-based programs, such as American Airlines, which rewards customers with points for each trip they take with them.

Freemium:

Freemium is the sum of the words free and premium and refers to a business strategy that provides both free and premium services. The freemium business model works by providing essential services for free and charging for enhanced or extra capabilities. This is a typical practice among many software firms, who offer imperative software for free with restricted functionality, and it is also a popular approach among game developers. While everyone is invited to play the game for free, extra lives and unique game features are accessible only once the player buys.

On-demand economy:

The on-demand economy is described as economic activity generated by digital marketplaces that meet customer demand for products and services via quick access and accessible supply. The supply chain is managed via a highly efficient, intuitive digital mesh built on top of current infrastructure networks. The on-demand economy is transforming commercial behavior in cities worldwide. The number of businesses, the categories covered, and the industry's growth rate are all increasing. Businesses in this new economy are the culmination of years of technological progress and customer behavior change.

Mobile first behavior:

It is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices. The term is “mobile first,” and it is intended to mean that as a company thinks about its website or its other digital means of communications, it should be thinking critically about the mobile experience and how customers and employees will interact with it from their many devices.

Software as a Service (SaaS):

Software as a Service (SaaS) is a paradigm for licensing and delivering subscription-based and centrally hosted software. Occasionally, the term on-demand software is used. SaaS is usually accessible through a web browser via a thin client. SaaS has established itself as the de facto delivery mechanism for a large number of commercial apps. SaaS has been integrated into virtually every major enterprise Software company's strategy.

Online marketplace:

An online marketplace (or online e-commerce marketplace) is a kind of e-commerce website in which product or service information is supplied by various third parties or, in some instances, the brand itself, while the marketplace operator handles transactions. Additionally, this pattern encompasses peer-to-peer (P2P) e-commerce between businesses or people. By and large, since marketplaces aggregate goods from a diverse range of suppliers, the variety and availability are typically greater than in vendor-specific online retail shops. Additionally, pricing might be more competitive.

Subscription:

Subscription business models are built on the concept of providing a product or service in exchange for recurring subscription income on a monthly or annual basis. As a result, they place a higher premium on client retention than on customer acquisition. Subscription business models, in essence, concentrate on revenue generation in such a manner that a single client makes repeated payments for extended access to a product or service. Cable television, internet providers, software suppliers, websites (e.g., blogs), business solutions providers, and financial services companies utilize this approach, as do conventional newspapers, periodicals, and academic publications.

Embed code:

x
Copy the code below and embed it in yours to show this business model canvas in your website.