iWorld

Eros International raises $30 million for Eros Now

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/smartcrop_800x800/public/images/tv-images/2016/09/23/Untitled-1_26.jpg?itok=RKkwsuat

Jyoti Deshpande

MUMBAI: Indian Bollywood major Eros International is getting hotter on OTT. It announced this morning that two of its existing top 10 institutional shareholders have increased their holdings in the company through a private placement and are pumping in approximately $30 million. The proceeds of the allotment will be primarily used to fund the further expansion of Eros Now, its OTT platform.

Eros International group CEO & MD Jyoti Deshpande commented: “Our vision to transform Eros from a leading film studio to a leading digital company with a global footprint is well underway with Eros Now, our OTT platform crossing one million paid subscribers as of 30 June 2016. Our ownership of content and our strong balance sheet should provide tailwinds to grow the Eros Now subscriber base from one million to ten million and eventually hundred million within the next decade.”

Eros Now is Eros International Plc’s leading on-demand Bollywood entertainment network accessible anytime, anywhere, on nearly any Internet-connected screen. Eros Now offers users across 135 countries a large library of films (Eros Now has rights to over 5,000 films), as well as premium television shows, music videos and audio tracks.

Eros Now is also working on launching compelling original drama series for its viewers. It also has compelling product features such as offline viewing where premium subscribers can download the content and view it when not connected to the Internet make Eros Now a unique offering with focus on user experience.

Available on Apple and Android platforms, Eros Now has integration deals with Airtel, Idea and Reliance Jio and several other operators internationally. A crucial deal was struck with Reliance Jio, the 4G player that has rolled out the most aggressive plan for digital India. In its platform-agnostic strategy, Eros has struck deals with OEMs and telecom operators such as Micromax, Airtel, Idea, LeEco, and Maxis.

Through the Eros-Jio partnership, new and old movies including Bajirao Mastaani, Bajrangi Bhaijaan, Prem Ratan Dhan Payo and Tanu Weds Manu Returns, will be available on the JioOnDemand app. With 30 HD channels, Jio is offering live streaming of over 300 TV channels 10 genres and 15 languages.

Available on Amazon Fire TV, Apple TV, and pre-installed in Android TV, Eros Now crossed over 50 million registered users worldwide across WAP, APP, and Web, as of 30 June 2016. It has already crossed over 1.1 million active unique paying subscribers who have paid for at least one month.

Eros released 14 films in Q1 FY17 of which three were high, two were medium and nine were low-budget films. Sardaar Gabbar Singh (Telugu),Housefull 3 (Hindi), 24 (Tamil), Marudhu (Tamil) and Ki and Ka (Hindi) were the main revenue earning films during the quarter. Eros Now is planning to acquire 10,000 additional films to add to its strong library.

Eros Now, in October 2015, partnered with Ortel, an MSO (multi system operator) and ISP, to offer a subscription-based movie streaming service. Eros had, in August last year, also negotiated a partnership with Airtel to offer video and movie content on Wynk. Eros Now tied up with WeChat in June 2015 so as to allow users to watch videos, listen to music, and get Bollywood gossip and news. Eros Now, in the same month, inked a content acquisition deal with Hum TV of Pakistan.

Eros Now has a five-year worldwide target of at least 15-20 million subscribers with a blended annual ARPU of $30 internationally and $5 from India. Trinity Pictures, owned by Eros International is building its franchises with two Sino-Indian co-productions, with a scheduled FY 2018 release.

Eros Now hopes to achieve at least two million paying subscribers by the end of FY 2017 and five million paying subscribers by the end of FY-18.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/21/cha.jpg?itok=XjGEBSk7
Vice Media starts Indian journey promising edgy content

MUMBAI: Global youth media brand Vice Media, which officially launched its operations in India on Thursday in partnership with the Times of India group, will bring content in Hindi and English and has introduced all its digital brands under the VICE.com banner.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/21/ama.jpg?itok=U3e3spQZ
Amazon Prime Video UK adds US Open

MUMBAI: With the gradual progress in the over-the-top (OTT) market, SVoD providers are increasingly inclining towards sports rights. Amazon Prime Video, one of the biggest players, has been granted the exclusive live telecast rights to the US Open tennis championships in the United Kingdom and the...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/20/Jeff_Bezos.jpg?itok=DVeVZbwz
India fastest-growing market in first year for Amazon: Jeff Bezos

MUMBAI: Amazon’s unstoppable march continues worldwide, including India. Putting an end to the speculation around the number of Amazon Prime subscribers, Amazon CEO Jeff Bezos has finally revealed the data in a letter to shareholders. The e-commerce giant has crossed 100 million subscribers for...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/19/vivek.jpg?itok=x3qEq7OO
TVF ropes in Vivek Saxena as north head for brand partnerships

MUMBAI: The Viral Fever (TVF), a digital platform, has announced Vivek Saxena as north head for brand partnerships. Saxena has joined TVF from Hotstar where he was managingagency relationship nationally with Publicis, IPG and Omnicom Media Group.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/19/netflix.jpg?itok=DyZRnWnL
Introducing Mobile Previews

One of the best ways to know if you’ll like a new series or movie is to watch a quick trailer. Today, we are excited to introduce mobile previews (launching today on iOS and coming soon to Android) to the mobile experience. Mobile previews present members with a fun, simple, and easy way to learn...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/19/fubo.jpg?itok=84PfFjqV
FuboTV raises $75 million from Fox, AMC Networks and Sky

Days after ESPN launched its new streaming service ESPN+, FuboTV, a three-year old streaming TV service for sports fans, is announcing the close of $75 million in Series D funding. The round included new investor AMC Networks and existing investors 21st Century Fox, Luminari Capital, Northzone,...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/18/Facebook.jpg?itok=5GmDEjrg
Facebook's Q1 ad spend on 4C grows by 62%

MUMBAI: Marketing technology company 4C, in its latest report, reveals that spend across major social and mobile platforms in the first quarter of 2018 increased significantly year-on-year (YoY) with the greatest revenue growth on 4C witnessed by Snapchat (234 per cent) and Instagram (136 per cent...

iWorld Social Media
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/18/Manav-Seth.jpg?itok=VphRdXtm
ALTBalaji's Sethi reaffirms faith in originals

MUMBAI: Among the plethora of over-the-top (OTT) players that sprung up in the Indian market, we have Balaji Telefilms’ ALTBalaji, which is striving to understand content through the eyes of its customers. The platform takes customer feedback seriously to predict which content will work. After...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2018/04/17/shilpa.jpg?itok=68BR5LYI
Shilpa Shetty makes digital debut with Amazon dating show

MUMBAI: In order to build a strong footprint in India, Amazon Prime Video has announced a new show Hear Me. Love Me around the concept of blind dating.  Bollywood actress and fitness guru Shilpa Shetty will host the show marking her debut on a digital platform.

iWorld Over The Top Services

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories