Eros Now Announces Over Two Million Paid Subscribers
December 08 2016 - 9:32AM
Business Wire
Visibility of 4-5 million subscribers from
fiscal 2018
Eros Now, one of the fastest growing over-the-top (OTT)
Bollywood entertainment platform owned by Eros International Plc
(NYSE: EROS), announced today that the platform currently has over
two million paid subscribers worldwide through significant deals in
place with all major telecom players in India who are on the
forefront of 4G growth, including as Reliance Jio, Airtel, IDEA
Cellular Network and more recently Vodafone.
Between the four platforms that offer Eros Now integrated as
part of their video service, there is a potential reach of 686
million subscribers which is almost 60% of India’s total mobile
user base of more than 1 billion. Reliance Jio has announced a user
base of 52 million users in just a few months following their
launch. These deals across 20 different telecom operators and OEMs
alone provide visibility to a minimum of 4-5 million subscribers
annually to Eros Now at an average annual ARPU of $4-5 in India and
average annual ARPU of $35 internationally. Since these deals were
agreed at various points in time in FY 2017, Eros Now will see the
full year benefit of these deals flowing through in fiscal 2018.
Most of these contracts are long term deals averaging five
years.
With a movie library of over 5,000 films and a further library
of 5,000 films being added to this list, Eros Now will offer the
widest repertoire of Indian movie content across any OTT platform
in the world.
Commenting on the associations, Rishika Lulla Singh, CEO,
Eros Digital says, “Our strategy remains to distribute Eros
Now, a world class OTT platform, to consumers across telecoms and
OEMs with compelling content and product features. We view the
recent demonetization move in India as a great opportunity for the
OTT business as more consumers are signing up for online and mobile
pay systems. I am really excited about the exponential growth in
front of Eros Now and am confident we will continue to consolidate
our leadership position and first mover advantage.”
About Eros Now
Eros Now is Eros International Plc’s leading on-demand Bollywood
entertainment network accessible anytime, anywhere, on most
Internet-connected screen including mobile, web, and TV. Eros Now
offers its 55 million registered users worldwide the promise of
endless entertainment hosting one of the largest libraries of
movies, as well as premium television shows, music videos and audio
tracks, unmatched in quantity and quality. Product features, such
as video in HD, subtitles in English and Arabic, movie downloads,
and high quality original drama series differentiate the Eros Now
entertainment offering. To see, watch now: www.erosnow.com
About Eros International Plc
Eros International Plc (NYSE: EROS) is a leading global
company in the Indian film entertainment industry that acquires,
co-produces and distributes Indian films across all available
formats such as cinema, television and digital new media. Eros
International Plc became the first Indian media company to
list on the New York Stock Exchange. Eros
International has experience of over three decades in
establishing a global platform for Indian cinema. The Company has
an extensive and growing movie library comprising of over 3,000
films, which include Hindi, Tamil, and other regional language
films. The company also owns the rapidly growing OTT platform Eros
Now. For further information please visit: www.erosplc.com
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version on businesswire.com: http://www.businesswire.com/news/home/20161208005678/en/
Eros International PlcMark Carbeck, +44 207 258 9909Chief
Corporate and Strategy Officermark.carbeck@erosintl.comorSloane
& CompanyErica Bartsch, 212-446-1875ebartsch@sloanepr.com
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