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BSE seeks & gets clarification on Eros Now-RelianceJio deal

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MUMBAI: The Bombay Stock Exchange (BSE), which had sought clarification from Eros International Media Ltd on a partnership with Reliance Jio, has been told that the deal pertains to US-based parent Eros International Plc and not the India-listed entity.

On 25 August, Eros International had announced a deal between its over-the -top (OTT) platform Eros Now and Mukesh Ambani-led Reliance Jio, which is slated to launch its telecom services soon offering subscribers high- speed broadband and other related services.

The Eros Now service with its huge library of Bollywood movies, including recent blockbusters such asBajrangi Bhaijaan, Bajirao Mastaani, Tanu Weds Manu Returns, Prem Ratan Dhan Payo, will power Jio’s on-demand entertainment offering.

The company in its announcement yesterday claimed the “game changing partnership” with Reliance Jio will allow consumers to access high quality Eros Now service within the Jio ecosystem. Jio will provide Eros Now with an opportunity to acquire new subscribers throughout urban and rural India, the company had stated.

Eros International group CEO and MD Jyoti Deshpande was quoted in an official statement as saying , “As a market leader in the film business, Eros has always strived to bring our users the best of Indian entertainment, offering them the same unified experience across screens and networks. Eros Now’s philosophy is to be platform agnostic and embrace the very best in technology as we continuously enhance our content offering. With the broadband and 4G stage set to explode, our alliance with Jio is part of our philosophy to provide consumers entertainment whenever and wherever they want it.”

Eros Now has over 44 million registered users across Web, WAP and APP globally and is available across 135 countries with a vast majority of users from India. Currently it’s focused on monetization and achieving a target of one million paying subscribers by the end of fiscal year 2017.

With a pricing of Rs. 49 ($0.73) per month for a streaming service and Rs. 99 ($1.47) per month, which has additional features such as offline viewing, high definition, subtitles and progressive viewing, the Eros Now service is competitively priced in India compared to other OTT services offering Indian language and international content, the company had claimed.

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