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Tag: Rishika Lulla

  • Eros Media to raise fund, board approves issue of 22.5 crore equity shares

    Eros Media to raise fund, board approves issue of 22.5 crore equity shares

    Mumbai: Eros International Media has announced its plans to raise funds, a change directorate and management on Thursday. Kishore Lulla resigned as the executive director of the company.

    The company’s board of directors approved an increase in the authorised share capital of the company from Rs 125 crore divided into 12.5 crore equity shares of Rs 10 each to Rs 350 crore divided into 35 crore equity shares of Rs 10 each by creation of additional 22.5 crore equity shares of face value of Rs 10 each ranking pari passu (same rate) in all respects with the existing equity shares of the company.  

    The board also approved the issue of up to Rs 13.5 crore convertible warrants for Rs 30 per warrant with a right to the warrant holders to apply for and be allotted one equity share of face value Rs 10 each of the company at a premium of Rs 20 per equity share for each warrant within 18 months from the date of allotment of warrants, for an amount up to Rs 405 crore for cash and in such form and manner and under Chapter V of the Securities and Exchange Board of India (SEBI), subject to the approval of members of the company and such regulatory/statutory authorities as may be applicable.

    The board appointed Vijay Jayantilal Thaker as an additional director of the company subject to shareholder approval in the ensuing annual general meeting. Thaker resigned from the role of the chief financial officer of the company.

    The company announced the appointment of Rajesh Chalke as chief financial officer.

    In April, the company had announced several additions to the board including the appointment of Rishika Lulla Singh as executive chairperson, Pradeep Dwivedi as new CEO and Rajesh Chalke as chief financial officer. It also changed the corporate name of the entity listed on New York Stock Exchange from ErosSTX Global to Eros Media World Plc after completing the previously announced sale of STX subsidiary. 

  • ErosSTX completes sale of STX; rebrands to Eros Media World

    ErosSTX completes sale of STX; rebrands to Eros Media World

    Mumbai: Entertainment major Eros STX Global Corp has changed its corporate name to ‘Eros Media World PLC’ (Eros Media). The company has completed the sale of STX and paid repaid $152 million of outstanding JP Morgan credit facility and subordinated credit facilities at STX level. According to the statement, the company will retain 15 per cent of non-voting stake in STX with long-term monetisation potential.

    Eros Media has named Rishika Lulla Singh as the new executive chairperson, Pradeep Dwivedi as new CEO and Rajesh Chalke as the new CFO and has made strategic additions to the board of directors and management team.

    It forecasts strong near-term revenue growth and significant reduction in net debt. Its current net debt of $130 million as of the end of fiscal year end (FYE) 2022, expected to decrease to $115 million by the end of FYE 2023. It also forecasts over $120 million in revenues for FYE 2023.

    “Eros Media has a deep and valuable content library combined with multiple monetisation channels positioned to drive long-term revenue growth and underpin capital efficient growth strategy,” said the statement. “Eros Now to target monetisation of existing content library and new original series through global partnerships and distribution arrangements, with a focus on more profitable direct-to-consumer subscribers.”

    “Innovative opportunities such as AVOD, blockchain and non-fungible tokens (NFTs) are expected to drive significant incremental upside, as well as renewed focus on growing Eros Now Music,” it added.

     

  • 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 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 enters Sri Lanka with Dialog Axiata

    Eros Now enters Sri Lanka with Dialog Axiata

    MUMBAI: Dialog Axiata, Sri Lanka’s premier connectivity provider, has announced its partnership with India’s video over-the-top (OTT) platform Eros Now. This association allows users to seamlessly browse through over 20,000 hours of original Indian content in over 10 languages.

    Available via the Dialog ViU app, Eros Now gives subscribers access to a high-quality content library which comprises of over 11,000+ movies with multi language subtitles, originals, music and entertainment shows in high definition (HD). Additionally, along with a vast library of diverse content, the app will allow users to curate movie and content playlists, receive personalised recommendations, view content offline and sync all devices for a superior viewing experience.

    There will be a monthly fee of Rs 100 and taxes.

    Speaking on the launch Dialog Axiata PLC senior general manager – global and content services Mangala Hettiarachchi said, “Dialog has always strived to provide customers with the best video experience on the best streaming network in Sri Lanka. Dialog ViU has allowed approximately one million customers to access the best of local, regional and international entertainment, and we are proud to exclusively partner with Eros Now, to give Dialog ViU users further access to an impressive content catalogue of Indian blockbusters.”

    Commenting on the partnership, Eros Digital CEO Rishika Lulla Singh said, “We are delighted to announce our arrival in Sri Lanka with our partner Dialog Axiata PLC. This partnership will help us offer the subscribers in Sri Lanka a one-stop-shop where they can watch a wide variety of Indian language, Bollywood and regional content. Sri Lanka is a growing market for digital entertainment and we truly believe that Eros Now’s extensive content bouquet will appease the audiences increasing entertainment demands.”

  • Eros Now’s OTT content hops on Roku TV & LG Smart TVs

    Eros Now’s OTT content hops on Roku TV & LG Smart TVs

    MUMBAI: Eros International has collaborated with TV Roku and webOS-enabled LG Smart TVs to make its OTT content from Eros Now available globally. Eros’ vast library of Bollywood and regional language films, TV shows, and originals will be shown.

    Commenting on the partnership with LG smart TVs, Eros Digital CEO Rishika Lulla Singh said, “We are excited to partner with one of the largest and formidable brands in consumer electronics. Smart TVs are increasingly becoming a must-have in every household today. This partnership offers a seamless viewing experience for Eros Now users which furthers our vision of being platform agnostic.”

    Users will also be able to enjoy a range of exciting features including full-length movies, thematic curated playlists, multi-language subtitles for movies, music video playlists, regional language filters, and access to a watch a list of titles.

    LG Electronics India director home entertainment Younchul Park said, “At LG, we constantly look at partnerships that can offer value proposition to consumers and our association with Eros Now is a step forward towards this endeavour. The market for smart TV is experiencing an upsurge in India. Availability of good content can certainly enhance the overall consumer experience of smart televisions. We are very confident that good content will further drive smart TV sales in India and create a conducive eco-system for us to cater to the ever-increasing demand.”

    Talking about the partnership with Roku, Singh said, “We are happy to collaborate with a leading streaming innovator like Roku and continue our global expansion to provide seamless user experience. Eros Now’s extensive premium content can now reach millions of homes across North America and the UK through the Roku platform.”

  • Audioboom partners ErosNow for India foray

    Audioboom partners ErosNow for India foray

    MUMBAI: Prepping up for its launch in the Indian market, audio content providing on-demand platform Audioboom has entered into an agreement with Eros International’s digital OTT platform  ErosNow. 

     

    The two companies will operate on an advertising revenue share arrangement.

     

    Under the deal, ErosNow will equip its 30 million registered users with access to exclusive Audioboom local and global podcasts and entertainment, comedy, sports, news and current affairs content.

     

    Through the partnership, ErosNow users will be able to personalise their own listening experience within the ErosNow app, with access to music and spoken word audio on-demand as well as films and TV shows. Eros will provide Audioboom with access to the very best of Bollywood acting talent for the creation and distribution of exclusive spoken-word audio content for the Indian market and beyond.

     

    A key element of the proposed partnership will see Audioboom responsible for all audio content curation (music and spoken word), ad sales and ad campaign delivery within the audio section of the ErosNow mobile and web applications. 

     

    Pending the signing of a long form agreement, the parties will work together closely around technical integration and ad sales implementation.

     

    Audioboom CEO Rob Proctor said, “I am excited to be partnering with Eros and continue our global expansion with the leading entertainment company in India. We’re delighted to bring Audioboom’s extensive audio content to Eros’ massive audience, and to be creating high-quality audio with some of Eros’ biggest Bollywood stars. The opportunity to create highly-sought after on-demand audio, along with the potential revenue opportunities that this brings, gives us significant first mover advantage in this very important and lucrative market.”

     

    Eros Digital CEO Rishika Lulla Singh added, “We’re always looking for new ways to engage and connect our users to their favorite celebrities on ErosNow, offering behind the scenes exclusives and star cast interviews. With their focus on sharing content and social network integration, the Audioboom platform is the perfect partner for ErosNow, providing a new medium for our talent to connect with their fans.”

  • ErosNow launches ‘Blazing Bajirao – The Game’

    ErosNow launches ‘Blazing Bajirao – The Game’

    MUMBAI: Eros International’s on-demand entertainment portal ErosNow launched the trailer of ‘Blazing Bajirao The Game’ for their upcoming film Bajirao Mastani. An extension of ErosNow’s digital marketing innovation, the web series, Blazing Bajirao, the game will be available on 10 December, 2015 for download on the Apple App and Google Play stores. The web version will be available exclusively on erosnow.com.

     

    The interactive game invites players to embark on a thrilling adventure as they battle as Peshwa Bajirao, the undefeated warrior of the Maratha empire. As players progress through the game, they must fight through hordes of enemy infantry and archers in search of Mastani roaring ‘Har Har Mahadev’!

    Eros Digital CEO Rishika Lulla Singh said, “ErosNow has been pushing boundaries with unique digital initiatives for the promotion of Bajirao Mastani. After the success of India’s first graphic web series, Blazing Bajirao, the game was a natural progression to take digital promotions to the next level. The game is of stellar quality and gamers can now become Peshwa Bajirao, the great warrior themselves and experience the exhilaration of battle victory using swords, bows and arrows.”

  • Skype partners YRF & ErosNow to develop custom Bollywood Mojis

    Skype partners YRF & ErosNow to develop custom Bollywood Mojis

    MUMBAI: Skype has partnered with Indian filmed entertainment companies namely Yash Raj Films and Eros International’s over the top (OTT) platform ErosNow to develop custom Bollywood specific mojis for its users.

     

    Mojis are short clips from movies and TV shows that Skype users can put directly into a Skype chat.

     

    In addition to the existing worldwide Mojis content, now users can react to Skype messages with clips from Bollywood movies like Dilwale Dulhania Le Jayenge, Ra.One, Dhoom 2, Dhoom 3, Tanu Weds Manu Returns and Devdas; and actors such as Shah Rukh Khan, Amitabh Bachchan, Aishwarya RaiBachchan, Anushka Sharma and Ranveer Singh.

     

    Yash Raj Films vice president digital Anand Gurani said, “Sometimes when words aren’t enough, a popular film dialogue often fills in. YRF has a rich library of films and content that caters to a wide audience base. The introduction of Skype Mojis is an extremely innovative addition to instant messaging that should get instant traction!”

     

    Eros Digital CEO Rishika Lulla added, “We are delighted to join hands with Skype and tap their massive consumer base in this ever evolving digital landscape. With Eros’ vast film content library, we are equipped to provide the best in entertainment for Skype users on their smart phones, tablets, laptops or any internet-enabled devices.”

     

    Skype has also created new emoticons highlighting some of the food, gestures and daily expressions honouring the Indian culture Bollywood stems from.

     

    “We’re hugely excited about our partnership with Yash Raj Films and Eros International studios to bring more exciting content to our users. Our goal is to provide the best possible messaging experience on Skype, and tapping into India’s extremely active and vibrant film culture is a perfect way to do that,” added Skype corporate vice president Gurdeep Pall.

  • Eros Now inks content acquisition deal with Pakistan’s Hum TV

    Eros Now inks content acquisition deal with Pakistan’s Hum TV

    MUMBAI: Eros Now has inked an exclusive content acquisition deal with Pakistan’s on air and digital content company, Hum TV.

     

    The deal gives Eros Now users access to Hum TV’s entire library, including the current shows at no extra subscription cost. The deal also gives Eros Now subscribers in India an exclusive opportunity to view the content 48 hours prior to its telecast on any other platform.

     

    Hum TV is a 24-hour entertainment TV channel in Pakistan, which provides programming across a wide spectrum of genres. Eros Now users will be privy to some of Hum TV’s television shows like Zindagi Gulzar Hai, Humsafar and Dastaan.

     

    Eros Now CEO Rishika Lulla Singh said, “We are extremely happy to introduce Pakistan’s popular soaps to a new digital generation of South Asians globally and add to our roster of content. The partnership with a leading channel like Hum will give our subscribers an opportunity to view the much sought after and varied Pakistani content.”

     

    Hum Network president Sultana Siddiqui added, “This association enables us in reaching out and providing some of our best Pakistani content to millions of keen internet users across the globe.”