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Tag: Eros Now

  • Eros Now’s original series Side Hero trailer generates over 10 million views in less than a week

    Eros Now’s original series Side Hero trailer generates over 10 million views in less than a week

    Mumbai, September 24, 2018: Eros Now, the cutting-edge digital over-the-top (OTT) South Asian entertainment platform owned by Eros International Plc (NYSE:EROS) (“Eros”), a leading global company in the Indian film entertainment, recently launched the official trailer of its first original series – Side Hero on September 18th, has garnered more than 10 million views online. The eight-episode series has begun streaming today, September 24th. The trailer was launched less than a week ago and has since garnered more than 10 million online views, making it the most watched trailer of any Indian OTT original.
    The Side Hero trailer, a unique binge-worthy show taking a stab at “cringe” comedy, based on the life of actor Kunaal Roy Kapur, has generated large online appeal and is now the only original series on any Indian OTT platform to receive such viewership in barely a week. Prior to the series’ launch on Eros Now, the poster and trailer announcement had also seen the highest level of engagement and trended number 1 on Twitter.
    The show and hashtag #SideHero picked up buzz on Twitter prior to its trailer launch for its innovative high-level consumer engagement activities. The digital campaign included fun spoofs and memes of a morphed Kunaal Roy Kapur on super-hit movie posters like Bajirao Mastani, Bahubali, Ra.one and more, extending the OTT platform’s vibrant personality to the show itself. Kunaal’s first Side Hero meme was announced through his debut on social media sites like Instagram and Twitter.
    The digital campaign also ran an exciting contest campaign #HowToBeAHeroIn7Days on @ErosNow twitter page to engage with audiences with the winner bagging an opportunity to be part of an upcoming Eros Now original. The noise and excitement around the trailer and show was further amplified by having an experiential on-the-ground activity with open air screenings for social media influencers with the all-star cast. Apart from the social media buzz, the trailer and show build up was backed by a robust 360° marketing campaign that strategically encompassed elements such as on-air promotions, on-ground associations, radio spots and various PR tools, making it an impactful campaign.

    Commenting on the occasion, Ridhima Lulla, Chief Content Officer, Eros Group said, “We are thrilled with the phenomenal response Side Hero’s trailer has received. The entire social media campaign with its innovations has been instrumental in driving maximum viewership towards the trailer and building curiosity around the series. This accomplishment is testament to our belief in constantly testing waters, being relevant yet different and launching our first show in an unusual comic space. We hope to receive the same appreciation for the series as well which launched today on Eros Now.”
    Side Hero is directed by Rohan Sippy and stars Kunaal Roy Kapur and Gauahar Khan as lead actors. All the episodes of the show are streaming now and available for binge viewing for INR 49 and INR 99 per month on Eros Now.

    Catch the trailer of Side Hero: https://erosnow.com/movie/watch/1063782/an-eros-now-original-series/6893259/sidehero:-official-trailer

  • Eros Now to launch original regional web series by early 2019

    Eros Now to launch original regional web series by early 2019

    MUMBAI: Eros Now, the digital arm of Eros International announced its foray into the original content space with its first series Side Hero, with all episodes available for binge-viewing from 24 September 2018. Directed by Rohan Sippy and produced by Ramesh Sippy entertainment productions, Side Hero stars Kunaal Roy Kapur as a fictionalised version of himself, trying to become a lead hero and prove that acting is not just a hobby.

    The web series consists of eight episodes with duration of 25-30 minutes. According to Eros Group chief content officer Ridhima Lulla, all the shows Eros Now intends to create are multi-seasonal. The OTT platform plans to roll out one to two originals a month. “We don’t want to restrict ourselves in the genres we want to create. This one is comedy, you will also see in drama, thriller, mythology or fantasy,” she added.

    The show’s quirky tagline ‘IskoKaunDekhega’ takes a dig at Kunaal Roy Kapur’s character showcasing Side Hero’s self-deprecating humour.

    Eros Digital chief operating officer Ali Hussein said, “The platform is planning to launch regional content in early 2019. All our short form content is free and long form content is behind the pay-wall. Currently, we are trying to figure out how to work with the advertisers not just in the short form but also in the long form space. We won’t be like a traditional AVOD brand. We are in conversation with top 10 brands in the country like Cadbury, Fevicol, Nivia, Myntra, Diageo and they have all reached out to us.”

    Lulla mentioned that there will be regional focus too as Eros doesn’t want to only look at Hindi content. “First few months we will focus on Hindi but in the next couple of months we will be kicking off a lot of regional content as well,” she said.

    The digital entertainment platform plans to strategically encompass marketing elements such as on-air promotions, creating social media buzz, on-ground association, outdoor campaigns, radio spots and various PR tools, making it an impactful campaign. Side Hero will be extensively promoted on major broadcast channels through a 15-day long campaign alongside aggressive promotions on leading radio stations in Mumbai, Delhi and Bangalore. Eros Now will also tactically use outdoor medium for promotions at 100+ sites in Mumbai.

    “We have got our partners like Google, Apple and many more doing something interesting for us. I think the surrounding noise of it is bigger than what Netflix and Amazon can potentially do because we are not necessarily dependent on a third party medium. Media value of our budget will be bigger than Amazon and Netflix because of our partnerships,” Hussein added.

    As of August 2018, Eros Now enjoys viewership from 100+ countries and is further strengthening its global presence. Eros Now will leverage its partnerships with leading international brands like Xiaomi Mi TV, Dialog Axiata and more to present its original content across Asia and beyond.

    “We are launching in at least 4-5 new countries in terms of specific alliance and partnerships in the next 3-4 months. We are already present to localise partners in key NRI markets around the world,” he concluded.

  • Local OTT players not distressed by YouTube’s Originals plan

    Local OTT players not distressed by YouTube’s Originals plan

     MUMBAI: YouTube is battling OTT giants neck-to-neck with its introduction of Originals. YouTube’s  wide reach in India is well-known to everyone. For a decade almost, it has been go-to place for any type of video. According to the KPMG 2018 report, the typical time spent by an average user on YouTube is around 8-12 minutes per session, time spent by subscribers on various OTT platforms ranges from 30-50 minutes per session. This statistics also indicates YouTube’s need to turn things around.

    “Originals are the next big bait for all players and the entry of YouTube in this category is going to fire up the competition further. With our original content slate lined-up for the coming months, we are certain that it will stand out. We are confident of our understanding of the audience preference and believe that YouTube’s entry will be a healthy competition,” SPNI digital business head Uday Sodhi says.

    The platform’s norm in other countries is to put original content behind a paywall but for now, it will focus on the ad-supported model in India. “There is no doubt that YouTube has a good internet / digital reach but it is not necessary that it will translate into great paid subscriber reach as well. The business of YouTube was built on the discovery of videos via search catering to predominantly shorter form viewership on the platform. Running a paid subscription service is a starkly different ball game,” Eros Now COO Ali Hussein comments.

    Netflix and Amazon, two international rivals of YouTube, have been also upping their investment in local originals to woo the audience, with different business models though.  These two platforms are known for loosening their purse strings when it comes to production cost. YouTube is also likely to invest heavily.

    Viu content head India Bimal Unnikrishnan cites the example of the FMCG market where the existence of multinational companies could not desist the growth of local players. He thinks international OTT players coming in and commissioning original content would be good for the overall industry. Moreover, for local players, producing local content is easier while international players’ ability to create such content is limited.

    “I think it will have an overall positive impact on OTT industry because YouTube is the biggest content aggregator in the market. Its entry in the space of creative originals will, of course, boost the overall dynamic of the market,” he adds.

    Indian OTT players aren’t worried about YouTube’s entry into originals because their focus is on regional content library and multilingual originals and movies. “However, when we talk about YouTube’s foray into original content space, they are still in an initial stage and it is too early to say anything at this point in time,” says Hussein.

    Sodhi mentions another important point. The expert says broadcaster-backed OTT platforms will always have a differentiated content strategy than independent players or production house-backed platforms. Notably, the KPMG report highlights that consumers spend more than half of their time watching TV content on OTT platforms.

    In the Indian market, AVOD and freemium models dominate the business while SVOD is at a nascent stage. While YouTube, the undeniable king of digital ad has started with celebrity-led content, it is obvious more advertisers will show interest in their content if it increases the quantity.

    Unnikrishnan thinks YouTube’s entry will boost the overall digital ad spend from advertisers. As all OTTs have a different target audience to reach, advertisers will not stick to one big player only.  Sodhi on a similar note says that the rise in the number of players will enhance content quality, thus giving a thrust to revenues in digital advertising. Hussein also says that brands would tend to associate with the platforms wherein their OTT brand and content resonate with their objectives to deliver the brand story.

    Marketing will be a big game for players to follow. “When it comes to marketing outlay, I don’t think marketing cost will be that critical. Each one will spend as much money as needed to reach out to the target audience. In digital, we are extremely focused in terms of target. I think the strategy will play a bigger role than cost itself,” says Unnikrishnan.

    Though the tech giant’s Indian originals are going to be a game changer, at least for now they will not affect local OTT players. YouTube India entertainment head Satya Raghavan himself insisted that the move is about growing the video pie not just for their own creators but for the entire online video industry.

  • Eros Now Signs Licensing Deal with China’s Largest Online Video-Streaming Service iQiyi

    Eros Now Signs Licensing Deal with China’s Largest Online Video-Streaming Service iQiyi

    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, has partnered with Chinese online video-streaming service iQiyi for a content licensing deal. iQiyi is one of the largest online video sites in the world,with nearly 6 billion hours spent on its service each month andover 500 million active monthly users.

    Eros Now has tied up with theBaidu-owned Chinese streaming giant for a content agreement to license its vast catalogue of Bollywood blockbusters that will be showcased on iQiyi. With this partnership, Eros Now becomes the first South Asian OTT player to make inroads into the Chinese digital space.

    Commenting on the development, Rishika Lulla Singh, CEO, Eros Digital, said, “The association with iQiyi represents a vital step forward for us as we continue to explore opportunities to expand our content offering globally. China has emerged as an important market and a major box office earner for Indian films in recent years, and it is a very significant milestone for us to further expand Eros’ dominant content distribution network through Eros Now’s alliance with iQiyi”. 

  • Eros Now partners with Leading Indian Online Supermarket Grofers to Grow Customer Base

    Eros Now partners with Leading Indian Online Supermarket Grofers to Grow Customer Base

    MUMBAI: Eros International PLC (NYSE:EROS) (“Eros”), a leading global company in the Indian filmed entertainment industry, announced today that Eros Now, it’s cutting-edge digital over-the-top (OTT) South Asian entertainment platform, has entered into a partnership with Grofers, a leading Indian online supermarket. As part of the association, Grofers’ Smart Bachat Club (SBC) Annual Plan will now have access to Eros Now’s rich library of over 11,000 film titles, original shows and music videos. The offer is available to both, existing and new customers of Grofers SBC annual pack subscribers, which is currently priced at 449 Rupees per year.

    Launched in January this year, Grofers Smart Bachat Club, is the first of its kind and now the biggest loyalty program in the grocery segment. The membership-based service enrolled 50,000 members within the first two weeks of its launch and currently has over 500,000 subscribers. The program gives consumers access to over 3,000 products at wholesale prices. Apart from this, Smart Bachat Club members get special discounts and cashback offers during sale days including exclusive bank offers. The subscribers are also eligible to avail lower prices when they shop for dairy, fruits and vegetables and pharmacy at offline stores that are part of the Smart Bachat Club network.

    Commenting on the partnership, Rishika Lulla Singh, CEO, Eros Digital said, “It is an exciting development for Eros Now to join hands with Grofers – India’s leading low price online supermarket.  Processing and sharing large quantities of data has led to some significant disruptions in the design of business models, especially in the Indian retail sector. With Grofers’ extensive customer reach, we are looking at expanding our subscriber base and giving them access to our compelling and engaging content. Always being ahead of the curve, this partnership further reaffirms Eros Now’s leadership position with regards to unique marketing tie-ups”

    Commenting on the partnership, Albinder Dhindsa, Co-founder and CEO of Grofers said, “We are delighted to partner with Eros Now, as a part of our endeavor to reach out more and more consumers with Smart Bachat Club, a first of its kind and now the most successful grocery loyalty program in the country.  Since its start in January 2018, SBC has given a strong boost to our business. The subscription offering, where the customer pays in advance for special pricing on items has crossed half a million subscribers already and is expected to touch one million by 2018 end.”

  • Eros Now driving Eros International growth

    Eros Now driving Eros International growth

    MUMBAI: The popularity of digital content has got traditional media scrambling to understand and shift to newer mediums. Leading production house Eros International’s digital arm is gradually emerging as the driving factor for the company’s growth given its Q1 result while its theatrical business revenue declined. Eros Now has not only seen a huge subscriber jump but also largely contributed to the record revenue digital and ancillary business. After gaining momentum in India, the company is seeing an influx of B2C subscribers from international markets boosting the platform’s overall growth.

    “International is starting to track in line, we just started with some independent state campaigns in the US and the UK over summer. So we are going to start seeing a lot more action from international,” Eros Digital CEO Rishika Lulla said in an earnings call. Along with international, India’s B2C conversions are happening earlier than expected since B2B2C was targetted first.

    Eros Now stands with 10.1 million paying subscribers as of 30 June. Initially, it did not opt for advertising so that people get accustomed to subscription. However, the company is also very confident about reaching its target of 16 million subscribers by the end of FY 2019.

    It is now looking at nonintrusive brand integration. Lulla said that though it has not integrated with any brand yet, the initial conversations with several brands are on. “We’d probably see something being rolled out within the next quarter and hopefully we will start seeing a bit more revenue recognition from that post one quarter,” she said.

    To scale up the digital business, the company is looking at a robust library including movies and originals. The target is to premiere minimum one to two movies in each week of a month leading to a total of 50 to 100 movies a year. In terms of originals, it is looking at 18 to 20 flagship originals, which is minimum one a month, and then two in some months. Other than flagship shows, the platform will have ‘normal originals’ also.

    While the number of originals will be increased, the cost will be adjusted from the allocated $250 million capex. The content production powerhouse is looking at a mix between the movie and digital content production. Since Eros Now is helping margins to build the scales may be tiled in favour of more original shows.

    “[For] the big tenfold movies, the cost has doubled and the box office of those movies are going down and thereby the other movies, the good script and the star cast, which are not being paid more are performing well and hence you have seen increase in the margins for those movies and less capex. That’s the reason [for] the less capex for those movies. Between that Rs 250 million allocated, we could allocate the capex for the originals,” Eros international executive chairman and CEO Kishore Lulla explained the strategy.

    Eros International is looking at spending $750 million for all its businesses in the next three years. Though the amount may seem huge but cash flow from the studio business, Eros Now, gives the company the confidence that it won’t enter negative cash flow in the average of three years.

  • Eros International profits up in first quarter

    Eros International profits up in first quarter

    BENGALURU: The Sunil Lulla-led Indian film and media company Eros International Media Limited (Eros) reported 25.3 per cent year on year (y-o-y) jump in profit after tax (PAT) for the quarter ended 30 June 2018 (Q1 2018, quarter, period under review) as compared to the corresponding year ago quarter (Q1 2018). Eros reported PAT at Rs 59.95 as compared to PAT of Rs 47.86 crore in Q1 2018. On account of items that will be classified later as a profit or a loss, total comprehensive income more than doubled (up 1.31 times)y-o-y to Rs 100.91 crore in Q1 2019 from Rs 43.56 crore.Calculated simple EBIDTA for the period under review increased 48.6 per cent y-o-y to Rs 93.33 crore (42.8 per cent of operating revenue) from Rs 47.86 crores (24.2 per cent of operating revenue.)

    Eros operating revenue in Q1 2019 declined 16.1 per cent y-o-y to Rs 217.93 crore from Rs 259.62 crore. Total Income declined 18.2 per cent y-o-y to Rs 223.57 crore from Rs 273.36 crore.

    The company says in its earnings presentation that revenues during the quarter were driven by releases of Bhavesh Joshi(Hindi), Meri Nimmo (Digital release), Blackmail (Overseas), Haami (Bengali), Goodnight City (Bengali), Alinagarer

    Golokdhadha (Bengali) and others. Eros released a total of 14 films during the quarter, consisting of 1 medium budget and 13 low budget films  as compared to 5 films in Q1  2018, consisting of 1 High Budget, 1 Medium Budget and 3 Low Budget Films). TV and Others segment included satellite sales of catalogue films to Zee TV and others.

    Eros says that Theatrical Revenues contributed – 30.7 per cent, Overseas Revenues – 12.6 per cent and Television & Others – 56.7 per cent as a percentage of income from operations.

    Company speak

    Eros executive vice chairman and MD Lulla  said: “We have started the year on an excellent note on operational and strategic parameters. Our strategy of a content driven approach reflected in a robust green lighting process enabling us to de-risk our model. Our film content is deeply researched and evaluated for its revenue potential across platforms and markets by our business leaders, due to which we were able to again deliver margin enhancing performance in Q1 2019.

    The new JV kicking in with V. Vijayendra Prasad for Hindi and regional content and Reliance Eros Productions LLP for USD 150 million already in process is bound further boost our content strategy and reflect in our financial performance in the forthcoming quarters. The first quarter was marked by the successful releases of our films which contributed to the overall growth. Our strong slate across languages, active pre-sales and catalogue monetization of our films ‘ library further supported the performance during the quarter. Looking ahead, we have drawn a compelling line-up for the remainder of the year featuring high-potential movies such as Color Yellow Productions Happy Phir Bhaag Jayegi, Anurag Kashyap’s Manmarziyan, the IndiaChina co-productions, Panda by Kabir Khan, trilingual Haathi mere Saathi and multiple other films across languages.

    Lulla further added, “As always, we continue to be a pioneer in industry innovations in catering to the changing tastes and preferences of the audiences. In this quarter, we released Meri Nimmo straight-to-digital on the Eros Now platform. I am happy to share that the film received a tremendous response from the audience and we look forward to launching more such films and originals on the Eros Now platform during the course of this fiscal. Along with it the roll-out of fresh and strong original content, makes us confident that the pace of subscriber addition for Eros Now will further accelerate, going from 50 to 100 cities and almost doubling the subscriber base to 16 million by end of the Fiscal year.”

    Let us look at the other numbers reported by the company

    Total Expenditure (TE) during the period under review declined 32.8 per cent y-o-y to Rs 146.45 crore as compared to Rs 217.81 crore in the corresponding quarter of the previous year.

    Films rights costs including amortisation costs in Q1 2019 declined 29.6 per cent y-o-y to Rs 90.15 crore from Rs 128.12 crore in the corresponding quarter of the previous year. Employee Benefits Expense in Q1 2019 declined 14.5 per cent y-o-y to Rs 13.54 crore as compared to Rs 15.83 crore in Q1 2018. Other expenses (OE) in the Q1 2019 reduced 63.8 per cent y-o-y to Rs 19.15 crore as compared to Rs 52.84 crore in the corresponding quarter of the previous year. Finance costs in Q1 2019 increased 5 per cent y-o-y to in Q1 2019  Rs 19.5 crore from Rs 18.58 crore.

  • RIL completes 5% acquisition in Eros International

    RIL completes 5% acquisition in Eros International

    MUMBAI: Reliance Industrial Limited (RIL) continues expanding its footprint in media and entertainment industry as the acquisition of a 5% stake in Eros International Plc (Eros) has been completed following customary approval processes. The Mukesh Ambani led Reliance and Eros International announced the multifaceted agreement on 20 February. 

    “Reliance has acquired 3,111,088 newly issued A ordinary shares from Eros which represents 5.0 per cent of Eros’ current issued and outstanding ordinary share capital on a pro forma basis. The purchase price was $15.00 per share, which represents a total cash consideration of $46.6 million,” Eros International said in a release.

    Goldman Sachs & Co. LLC was the exclusive financial advisor to Eros International in this transaction.

    According to earlier statements the purchase price was USD 15 per share while the transaction was subject to regulatory and other approvals. Following the announcement, former Eros CEO and MD Jyoti Deshpande became the president of the chairman’s office for the media and entertainment business at RIL. 

    After the accomplished deal Reliance will become more powerful in media industry on the back of Eros’s Hindi and regional movie slate as well as Eros Now can emerge as a new threat to international OTT players like Netflix, Amazon in the ongoing content battle. 

  • Eros Now partners InMobi to monetise ads

    Eros Now partners InMobi to monetise ads

    MUMBAI: India’s over the top (OTT) platform Eros Now, part of Eros International, has tied up with InMobi to enable advertisers to directly monetise on Eros Now’s video platform, which boasts an audience of over a 100 million registered users. This exclusive partnership will give brands and advertisers in India a unique opportunity to experience an end-to-end playbook that spans innovative video and ad formats, dynamic in-content placement of high-quality movies, and music videos and originals across devices.

    In addition, Eros Now will also adopt InMobi’s disruptive mobile-first advertising platform to market content through the in-app video universe across India.  

    Commenting on this association, Eros Digital CEO Rishika Lulla Singh said, “With the advertising landscape transforming into immersive engagement, brands can now leverage deep story-telling to collaborate with the audience. The digital penetration is seeing an incremental growth across cities in India and the consumer is increasingly spending much more time on their mobile devices than they did a few years ago, making it one of the most sought-after platforms for advertising. We are happy to join hands with one of the leading advertising platforms in India and aim to continue providing a seamless experience to all our subscribers.”

    InMobi founder and CEO Naveen Tewari said, “Our association with Eros Now marks an industry first partnership in the OTT space which is the next big thing after the app economy. It will be a trendsetter in many ways. Our distinction lies in our core business which centres around the primary screen – mobile; making this an organic progression for us, and that’s where our decade-long expertise also comes at play. Our full-stack mobile OTT solutions hinged on in-app and our video-first platform will not only allow for deep brand integrations but will improve the overall efficacy of content monetisation, driven through Eros Now’s original video content.”

    Eros Now hopes to open up avenues for both traditional and non-traditional brands to engage with their target audience. Mobile in-app advertising is a highly personalised segment, and by using InMobi’s technology and innovation, Eros Now will give advertisers access to creative optimisation, re-targeting and data-driven decision-making capability to run ads and to be the market leader.

  • Eros Now Announces Partnership with InMobi

    Eros Now Announces Partnership with InMobi

    MUMBAI: Eros International PLC (NYSE:EROS) (“Eros”), a leading global company in the Indian film entertainment industry, announced today that Eros Now, it’s cutting-edge digital over-the-top (OTT) South Asian entertainment platform, has partnered with InMobi, a global provider of enterprise platforms for marketers.

    The association will enable advertisers to directly monetize on Eros Now’s video platform, which boasts an audience of over a 100 million registered users, dedicated to Bollywood and movie streaming. This exclusive partnership will give brands and advertisers in India a unique opportunity to experience an end-to-end playbook that spans innovative video and ad formats, dynamic in-content placement of high-quality movies, and music videos and originals across devices. In addition, Eros Now will also adopt InMobi’s disruptive mobile-first advertising platform to market content through the in-app video universe across India. It will unlock a fantastic avenue for brands to engage with their audiences on a native video platform hosting Bollywood and movie content, which up until now had principally been out of the advertiser purview.

    Commenting on this association, Rishika Lulla Singh, CEO, Eros Digital, said, “With the advertising landscape transforming into immersive engagement, brands can now leverage deep story-telling to collaborate with the audience. The digital penetration is seeing an incremental growth across cities in India and the consumer is increasingly spending much more time on their mobile devices than they did a few years ago, making it one of the most sought-after platforms for advertising. We are happy to join hands with one of the leading advertising platforms in India and aim to continue providing a seamless experience to all our subscribers.”

    Naveen Tewari, Founder and CEO, InMobi, said, “Our association with Eros Now marks an industry first partnership in the OTT space which is the next big thing after the app economy. It will be a trendsetter in many ways. Our distinction lies in our core business which centers around the primary screen – Mobile; making this an organic progression for us, and that’s where our decade-long expertise also comes at play. Our full-stack mobile OTT solutions hinged on in-app and our video-first platform will not only allow for deep brand integrations but will improve the overall efficacy of content monetization, driven through Eros Now’s original video content.”

    India’s OTT video viewing is expected to grow by 355 million by 2020 as per a Deloitte report. With this partnership, Eros Now will open-up avenues for both traditional and non-traditional brands to engage with their target audience. Mobile in-app advertising is a highly personalized segment, and by using InMobi’s technology and innovation, Eros Now will give advertisers access to creative optimization, re-targeting and data-driven decision-making, capability to run ads, and to be the market leader.

    With this partnership, the two companies will work in close cooperation to devise a go-to-market strategy, offering integrated advertising and marketing solutions for Eros Now.