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Tag: Eros International Plc

  • Eros Now, Oppo partner to provide smartphone users with premium content

    Eros Now, Oppo partner to provide smartphone users with premium content

    Mumbai: Eros International Plc-owned Eros Now has partnered with Oppo mobile phones to give access to its massive content library consisting over 12,000+ movie titles, original shows, music videos and short-format content on Eros Now Quickie on the Oppo App store.

    At a time when mobile consumption is growing exponentially, OTT platforms have emerged as the biggest gainers. Consumers have spent three hours more on their mobile phones in the week ended 27 March, 2020, as per the recent Barc India-Nielsen report.

    The partnership between Eros Now and Oppo further accelerates this growth by offering users seamless access to premium content on their smartphones. As part of the deal, Oppo users can avail a one-month free subscription to Eros Now services.

    This alliance is a result of Eros Now's and Oppo’s shared vision to enhance consumers’ viewing experience. Eros Now’s robust content line-up delivered on Oppo handsets’ high-quality display caters to consumers’ demand for the superior binge-viewing experience. Also, with this deal, Eros Now further expands reach by offering a superior streaming experience for Oppo’s user base in India.

    Eros Now CEO Ali Hussein said: “Strategic partnership, robust content line-up and superior-tech backend has fast-tracked Eros Now’s growth story. The association with Oppo, a leader in the smartphone market, enables us to deliver enhanced viewing experience to our existing and potential consumers using Oppo handsets. The inclusion of Eros Now App adds value to the services offered on the Oppo App store by providing consumers with the best of online streaming.”

    Yajun, country manager – OPPO mobile internet business, said: "We are delighted to welcome Eros Now to team up with App Market. App Market is a safe, secure, and easy to use platform. We value such partnerships which strengthen our association with developers like Eros Now to provide rich content & services to our user base."

  • Eros International Media appoints Pradeep Dwivedi as CEO

    Eros International Media appoints Pradeep Dwivedi as CEO

    MUMBAI: Eros International Plc, a leading company in the global Indian film entertainment industry, today announced the appointment of Pradeep Dwivedi, as chief executive officer of its majority-owned subsidiary, Eros International Media Ltd (EIML).

    At Eros International Media Ltd, Dwivedi will be responsible for managing business growth and operations of the company and will also be responsible for all commercial negotiations and representations in various markets, forums, customers, vendors and regulatory authorities.

    Eros International Plc CEO and EIML executive director Kishore Lulla said: “We are delighted to have Pradeep Dwivedi joining us as CEO at Eros India. His energy, leadership credentials and relationships across multiple industries and deep understanding of media & technology business will be an asset in driving our growth. I am looking forward to working with him in successfully executing our strategy”

    Dwivedi said, “The Indian media & entertainment industry is poised for rapid transformation in the digital era and Eros India, with its strong legacy and innovative vision of Kishore Lulla, is all set to take advantage of the enormous market opportunities ahead. This provides a significant springboard to lead large-scale creation of value and business transformation. I am keen to work with all our stakeholders to accelerate growth and further success in the next exciting phase of its journey.”

    Pradeep Dwivedi, B Sc, MBA, is a senior media industry professional. He is an accomplished industry leader with an experience of over two decades in Advertising & Media Business, Telecom & Technology Enterprises, Banking & Financial services Institutions and Automotive sector, with established credentials in digital infotainment business as well as Print Publication, News Television channels and Experiential Events. He has a demonstrated track record in revenue growth, sales & marketing, value creation, joint ventures & partnerships, corporate investments, business operations & general management. In the past, he has been CEO of Sakal Media Group, Chief Corporate Sales & Marketing Officer of Dainik Bhaskar Group, and worked in leadership positions with organisations including Tata Teleservices, American Express, GE Capital, Standard Chartered Bank & Eicher Motors in India. He is an active participant in many media industry associations, such as Director of IAA (India Chapter) and a managing committee member of The Advertising Club of India.

    Eros International Plc has also appointed Vijay Vaishnav as chief finance officer at Eros Now, the premium OTT South Asian entertainment platform.  Vaishnav, BCom and CA, demonstrates exemplary expertise as evinced through the years of financial experience in established media & entertainment organisations such as Zee Entertainment, Viacom18 and Balaji Telefilms to name a few.

    Eros International Plc has further strengthened its legal team with the appointment of Bishwarup Chakrabarti as Legal-Head at Eros Digital. Bishwarup, a postgraduate from National Law School, Bengaluru has previously been associated with various law firms and media conglomerates such as Viacom18 and Sony. At Sony, he was heading legal and regulatory affairs for production across the network.

  • Eros Now partners with EUROSTAR Group

    Eros Now partners with EUROSTAR Group

    MUMBAI: Eros Now, the cutting-edge digital over-the-top (OTT) South Asian entertainment platform owned by Eros International, a global Indian Entertainment Company, has announced its partnership with UAE-based digital retail giant, EUROSTAR Group. The association enables the large diaspora from the Indian sub-continent and locals across GCC countries to access Eros Now’s vast content library of more than 12,000 movies, music videos, original shows, short format content quickie and more.

    The massive fan base of Indian entertainment content in the GCC markets can now take advantage of monthly and annual subscription packs of Eros Now from their nearest EUROSTAR-serviced retail outlet. The partnership promises to deliver entertainment and enhance customer convenience by offering seamless access to the premium OTT platform.

    Expats from India, Sri Lanka, Bangladesh, Pakistan and Egypt living in UAE and other GCC markets are massive fans of Indian entertainment, especially Bollywood movies and stars. Eros Now, apart from offering a huge Bollywood film catalogue, is also known as the one-stop destination for regional films in Tamil, Telugu, Malayalam, Kannada, Gujarati, among other Indian languages. The Company’s direct-to-digital offerings, ground-breaking original shows and short-format content category, quickie, further encourages GCC market consumers to avail subscription from EUROSTAR retail outlets.

    Eros Now chief executive officer Ali Hussein said, “We at Eros Now believe in constantly enhancing consumer experience and expand reach by partnering with relevant leading brands globally. The partnership with EUROSTAR is a testament to our endeavor in offering easy accessibility and unparalleled entertainment to the massive consumer base across GCC countries. We are confident that with a plethora of choices as well as regional languages to choose from, audiences in GCC will find there is no better place to go.”

    EUROSTAR spokesperson and executive director Shaan Jethwani said, “We are happy to partner with India’s leading OTT platform Eros Now to offer their bouquet of content to our audience. The increasing demand for Indian entertainment content in GCC markets is the driving force behind this decision. With EUROSTAR’s legacy on Pay TV distribution, we envisage to deliver its vast entertainment content to a massive consumer base across GCC countries.”

  • Eros Now Channel live on Wasu Media for Chinese users

    Eros Now Channel live on Wasu Media for Chinese users

    MUMBAI: Eros Now, the cutting-edge digital over-the-top (OTT) South Asian entertainment platform owned by Eros International Plc (NYSE: EROS) (“Eros” or “the Company”), a global Indian Entertainment Company, in 2019 had announced a partnership with Wasu Media, a major cable television, broadband network OTT and IPTV service provider in China. Eros Now is pleased to reveal that the service is now live on Wasu Media in China and able to deliver Bollywood and digital original series to the Chinese viewers.

    Eros Now further cements its position as a pioneer as it is the only Indian OTT player which will have live services for Video on Demand in China, including on Wasu Media and iQiyi.

    Wasu Media, which has a strong base in the country, reaches 125 million users via its Cable TV, OTT and IPTV distribution network to more than 100 cities in China is now providing Eros Now a platform to further expand its subscriber base. The partnership will enable Wasu Media to provide Bollywood content as a SVOD service to Chinese viewers and further enhance the demand that Bollywood content has seen in China over the last few years.

    There is a massive cultural overlap in the viewing behaviour of Chinese audiences with that of South Asian audiences. This has been demonstrated by the success of movies like Dangal, Bajrangi Bhaijaan and Andhadhun released in China over the last few years with significant success at the Chinese box office. The trend now has escalated to digital platforms with Eros Now at the forefront with this transformation of building viewership of Indian movies with digital viewers in China.

    Eros Digital chairman & CEO Rishika Lulla Singh said, “Eros Now is the most popular destination for Bollywood & Indian movies across the globe. We are glad to go live in China in partnership with Wasu Media which caters to 125 million users in the country. The partnership with Wasu Media and uCast ties in with our ethos of connecting with Bollywood fans across the world. Through such alliances, we will continue to build on our global reach for Eros Now.”

    Wasu New Media Operations general manager Lu DanQiang said, “Wasu Media's partnership with Eros and uCast significantly promotes the development of Indian film and television in China, delivering more Bollywood content to Chinese audiences. Chinese film fans now have the opportunity to watch high quality Indian film and TV content, which is win-win cooperation for both parties.”

  • Eros Now partly assuages Eros International’s syndication declines

    Eros Now partly assuages Eros International’s syndication declines

    BENGALURU: Eros International Plc (Eros) reported 49.1 percent decline in aggregate revenue to $23.1 million for the quarter ended 30 September 2019 (Q2 2019, quarter or period under review) as compared to the corresponding year ago quarter’s $63.4 revenue. Eros explains that lower revenue was mainly due to lower syndication revenue for Q2 2020, which was partially offset by increase in revenues from the Eros Now business. “Our Eros Now business continues to ramp up and grow its paid user base worldwide, supported by one of the largest libraries of Indian movies, along with its unparalleled market position and brand name,” says a statement by Eros.

    In Q2 2020, the Eros film slate comprised 11 films of which 11 were low budget as compared to 17 films in Q2 2019, of which four were medium budget and 13 were low budget. In Q2 2020, the company’s slate of 11 films comprised two Hindi films and nine regional films as compared to the same period last year where its slate of 17 films comprised five Hindi films and 11 regional films and one Tamil/Telugu regional film.

    Operating adjusted EBITDA declined to less than a third (declined by 2.53 times)  y-o-y to $7.8 million in Q2 2020 as compared to $27.5 million in Q2 2019. Eros claims that the decrease in Adjusted EBITDA was on account of increase in administrative costs due to expected credit loss expense accounted as per default method under IFRS 9.

    Gross profit for the period under review declined 38.7 percent y-o-y to $15.5 million from $25.3 million in Q2 2019. Eros reveals that the decrease was mainly due to lower amortisation, marketing, advertising and distribution costs for Q2 2020 which was partially offset by increase in administrative cost.

    The company reported a lower operating loss of $13.6 million for Q2 2020 as compared to an operating loss of $261.9 million in the year ago quarter.

    The company says that cost of sales decreased by 55.6 percent to $16.9 million in Q2 2020 compared to $38.1 million in Q2 2019. Eros says that the decrease was mainly due to lower amortisation costs. Administrative cost increased by 72.2 percent in Q2 2020 to $29.1 million compared to $ 16.9 million in Q2 2019. The increase was mainly due to increase in expected credit loss accounted as per default method under IFRS 9.

    For Q2 2020, Eros’s net finance costs increased by 866.7 percent to $2.3 million, compared to $(0.3) million in Q2 2019 mainly due to increase in finance costs and reduction in interest income on account of unwinding of credit impairment loss.

    Eros says that as of 30 September 2019, Trade Receivables decreased to $189.8 million from $196.4 million as of March 31, 2019 after considering expected credit loss reserve upon adoption of new accounting standards during the period.

    Company speak

    Excerpts of a statement made by the company:

    “This quarter we generated $32.3 million of top-line revenue and $7.8 million in adjusted EBITDA. Our Eros Now business continues to ramp up and grow its paid user base worldwide, supported by one of the largest libraries of Indian movies, along with its unparalleled market position and brand name. As of 30 September 2019 our Eros Now OTT platform reached 23.5 million paid monthly subscribers and 177.7 million registered users, increases of 81percent and 39 percent, respectively, over the same period last year. This represents net additions of 4.7 million paid subscribers and 23 million registered users during the first half of Fiscal Year 2020. Eros Now currently garners viewership from over 150 countries around the world. Eros has a strong slate of films and original series scheduled for release over the coming quarters, and we expect this to help drive continued growth in our Eros Now business as well as box-office revenue.

    “For the full fiscal year 2020, we are reiterating our consolidated revenue guidance in the range of $200-220 million, and Adjusted EBITDA of $80-$95 million. We have a healthy balance sheet with net debt of $112.6 million and $99.4 million of cash and cash equivalents.”

  • Eros International Plc to release Andhadhun in Japan on november 15

    Eros International Plc to release Andhadhun in Japan on november 15

    MUMBAI: – Eros International Plc, a Global Indian Entertainment Company, has announced the planned theatrical release of Andhadhun in cinemas in Japan on November 15th. Andhadhun is an Indian black comedy crime thriller film directed by Sriram Raghavan. The engaging thriller starring Tabu, Ayushmann Khurrana and Radhika Apte was originally released theatrically in India and internationally to widespread critical acclaim. The film was produced by Viacom18 Motion Pictures and Matchbox Pictures and distributed internationally by Eros International.

    Andhadhun has already been screened and appreciated by the audience of multiple nationalities and cultures in various parts of the world including China, Korea, Russia and Kazakhastan.

    Speaking on the announcement,Eros International Media Ltd  Chief Operating Officer Kumar Ahuja said, “Eros Now’s legacy of entertaining the masses with the best of Bollywood films is a well-established territory. We are keen on sharing this exciting & highly captivating narrative with the audience of Japan and hoping they will enjoy and embrace the film it just as much as the viewers did from the other parts of the world.”

  • Eros International Plc acquires international distribution rights to four bollywood films

    Eros International Plc acquires international distribution rights to four bollywood films

    MUMBAI: Eros International Plc (NYSE: EROS) (“Eros” or the “Company”), a Global Indian Entertainment Company, announced today that it will release four Hindi language films across different genres later this year in several overseas markets including the UK, US and Middle East. First to release will be the romantic action film titled ‘Marjaavaan’ on the 15th of November, directed by Milap Zaveri, starring Sidharth Malhotra, Riteish Deshmukh, Tara Sutaria and Rakul Preet Singh. Produced by T-Series and Emmay Entertainment, the film is a dramatic, violent and action-packed love story. 

    The second film to be distributed will be ‘Pagalpanti’, which is scheduled to release on the 22nd of November. The forthcoming film is a comedy caper directed by filmmaker Anees Bazmee and produced by T-Series and Panorama Studios. The story of the film revolves around a group of Indian tourists on vacation that turns into a patriotic mission. The comedy stars Anil Kapoor, John Abraham, Ileana D'Cruz and Arshad Warsi.

    Closely followed will be two other releases, one titled ‘Pati Patni Aur Woh’ and the other, ‘The Body’. The two starkly different films are scheduled to release simultaneously on the 6th of December. The former is a remake of a cult Bollywood film of the same name. Produced by T-Series and directed by Mudassar Aziz, the highly awaited film stars Kartik Aaryan, Ananya Panday and Bhumi Pednekar. ‘The Body’ is a thriller mystery inspired by its Spanish antecedent. Produced by Viacom18 Motion Pictures, the film is headlined by Emraan Hashmi, Rishi Kapoor, Vedhika and Sobhita Dhulipala. 

    “Eros continues to be a forerunner in releasing the biggest hits from Bollywood in significant markets across the globe. We take immense pride in taking quality cinema outside of India to maximize its viewership. And with this, we shall continue to forge our own path in the overseas market with the sole objective to delight the Indian diaspora and global consumers seeking fresh content.” Says, Sunil Lulla, Managing Director- Eros International Media Ltd.

  • Eros International’s Andhadhun Grosses Over $14 Million in China in First Weekend

    Eros International’s Andhadhun Grosses Over $14 Million in China in First Weekend

    Isle of Man, April 8, 2019– Eros International Plc (NYSE: EROS) (“Eros” or “the Company”), a Global Indian Entertainment Company, today announced that Andhadhun, an engaging thriller starring Tabu, Ayushmann Khurrana and Radhika Apte has collected over $14.0 million within four days of its release in China. Andhadhun was released in China on April 3, 2019 and continues to enjoy a very strong box office performance. The film was originally released theatrically in India and internationally on October 5, 2018 to widespread critical acclaim. Andhadhun was produced by Viacom18 Motion Pictures and Matchbox Pictures, and distributed internationally by Eros International.

    Speaking on the film’s performance, Kumar Ahuja, President of Business Development, Eros International, said, “With the success of Bajrangi Bhaijaan and previous Indian releases, China has emerged as a key market and a major box office earner for Indian films. We are delighted with the impressive run the film is enjoying and how the fans in the country can now witness the magic of Andhadhun unfold in theatres across the country.”

  • TV Se Pehle Manmarziyaan & Happy Phirr Bhag Jayegi get digital premiere on Eros Now

    TV Se Pehle Manmarziyaan & Happy Phirr Bhag Jayegi get digital premiere on Eros Now

    MUMBAI: Eros International PLC (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, its cutting edge digital over-the-top (OTT) South Asian entertainment platform will premiere this year’s hit movies – Manmarziyaan and Happy Phirr Bhag Jayegi on December 12, before their satellite telecast.

    The critically acclaimed Manmarziyaan, a love triangle, directed by Anurag Kashyap featuring Abhishek Bachchan, Tapsee Pannu and Vicky Kaushal garnered appreciation on its theatrical release in September. The love triangle revolves between a spirited young woman, her delusional boyfriend and a restrained fiancé. The digital premiere will be the uncensored version of the movie, which will include the deleted scenes during its theatrical release. Happy Phirr Bhag Jayegi, is the sequel to hit romantic comedy Happy Bhag Jayegi starring Sonakshi Sinha, Jimmy Sheirgill, Diana Penty, Aparshakti Khurana and Ali Fazal. Directed by Mudassar Aziz, Happy Phirr Bhag Jayegi is a comedy of errors set to tickle audiences’ funny bone.

    Speaking about the digital premiere of both the films, Rishika Lulla Singh, CEO, Eros Digital said, “We continue to ramp up our service catering to the shifting content consumption patterns and this includes premiering movies on Eros Now before their television release. Riding on the larger digital viewship, we began this trend earlier on in 2015 with the digital-before-satellite premiere of Tanu Weds Manu Returns. Bringing two major releases like Manmarziyaan and Happy Phirr Bhag Jayegi on the digital platform first reiterates Eros Now’s position as the undisputed leader in the movie category”.

    Eros Now has a massive library of more than 11,000 films, original shows and music videos. One can binge-watch a varied offering of Indian movies from classics like Ram aur Shyam, Haathi Mere Saathi, Kati Patang to blockbusters like Devdas, Bajirao Mastani, Bajrangi Bhaijaan and many more, exclusively on Eros Now.

  • Eros International Plc Announces Full and Final Dismissal of Class Action Lawsuit

    Eros International Plc Announces Full and Final Dismissal of Class Action Lawsuit

    MUMBAI: Eros International Plc (NYSE: EROS) (“Eros”), a leading global company in the Indian film entertainment industry, today announced that the United States Court of Appeals for the Second Circuit has issued a Summary Order affirming the U.S. District Court’s earlier dismissal, with prejudice, of the putative securities class action that was originally filed in November 2015 against Eros and certain of its officers and directors.

    Eros previously disclosed that, on October 23, 2017, lead plaintiffs filed a Notice of Appeal, individually and on behalf of the putative class, to the United States Court of Appeals for the Second Circuit. On August 21, 2018, the Court of Appeals issued a Summary Order affirming the District Court’s dismissal with prejudice.