iWorld

Eros International raises $30 million for Eros Now

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

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/default/files/styles/340x340/public/images/tv-images/2018/10/18/Mukesh-Ambani-800.jpg?itok=2N8bZVJV
Jio and organised retail add to RIL's growth in second quarter

Mukesh Dhirubhai Ambani’s largest startup in the world in the form of Reliance Jio Infocomm Ltd or Jio has only gone from strength to strength since its inception. The mobile and broadband subsidiary of Reliance Industries Ltd (RIL), which is already the largest mobile data carrier in the world...

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/17/netflix.jpg?itok=I7LNZeIl
Netflix adds 6.96 mn subscribers in Q3

After a disappointing Q2 result, global streaming giant Netflix has again beat all expectations in its Q3 earnings. Netflix has not only added 6.96 million subscribers in this quarter but it has reported $4 billion streaming revenue for the quarter which is up 36 per cent year over year.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/AMBANI.jpg?itok=zNibmglX
RIL close to buying majority stakes in DEN, Hathway

Reliance Industries is expected to buy controlling stakes in two of India’s largest cable TV and broadband service providers

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/Taranjeet%20Singh.jpg?itok=dnumI-hj
ZEE5 appoints Taranjeet Singh asChief Revenue Officer& Business Head - New Projects

ZEE5 India, India's second largest OTT platform known for its muscle in multi-lingual content, today announced the appointment of Taranjeet Singh as the Chief Revenue Officer & Business Head – New Projects for the platform.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/16/netflix.jpg?itok=bVIQH9bf
Netflix Q3 app revenue up 90% y-o-y

Netflix's financials show it had a strong Q3 on mobile. The app dramatically observed an upswing by generating gross $243.7 million which represented a 90 per cent year-on-year increase as compared to Q3 2017. The popular streaming app has surpassed an estimated $1.4 billion in total gross revenue...

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/avia.jpg?itok=D8QtSi-I
AVIA announces new members

The Asia Video Industry Association (AVIA) today announced that Netflix has joined as a Patron member, alongside Globe Telecom as a Corporate member, strengthening the mandate of the Association to represent the interests of companies across the broader video industry in Asia.

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/coai.jpg?itok=9s-1J2pW
3 more quarters of losses for telecom industry, says COAI

According to COAI director general Rajan Mathews, the telecom sector will probably experience three or more quarters of losses, as the telcos remain under pressure due to high levies and unsustainable tariffs.

iWorld Telecom
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/15/hulu.jpg?itok=_ijK9rAv
India’s Porus Rises In the land of the Rising Sun- Japan

One Life Studios premium historical drama series Porus, which depicts the legendary warriors battle against the world’s biggest conqueror Alexander the great will now be showcased in one of the top premium OTT platforms in Japan- Hulu.

iWorld Over The Top Services
http://www.indiantelevision.com/sites/default/files/styles/340x340/public/images/tv-images/2018/10/13/Data-breach.jpg?itok=TX7OnSWg
Data of 29 mn users hacked says Facebook

MUMBAI: Social media company, Facebook, on Friday stated that hackers had accessed 29 million user data in the breach which was disclosed late last month. Facebook previously had said that 50 million users were affected due to the data breach.

iWorld Social Media

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories