Eros Now Reaches 5 Million Paying Subscribers, Y-o-Y Growth of 150%
January 09 2018 - 9:28AM
Business Wire
Company reiterates guidance for FY18 target
of 6-8 million paying subscribers, and expects to double the base
in FY19
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 reached 80 million
registered users and 5 million paying subscribers worldwide as of
December 31, 2017, over 150% growth, up from 2 million at the end
of CY 2016.
Thriving on its platform agnostic strategy, Eros Now has
partnered with leading players worldwide to expand its offerings,
including Amazon Channels across the US and UK, Roku in the United
States, Canada and UK and T-Mobile in the United States. The
Company most recently partnered with LG for its Smart TVs
worldwide.
With exponential growth and data consumption in the Indian
telecom industry, combined with huge investments made in the
sector, India is now the second largest telecom industry in the
world. Eros Now, through its partnership with major Indian telecom
players like Reliance Jio, Bharti Airtel, Idea Cellular, Vodafone
and others, continues to be one of the fastest growing OTT
entertainment platforms capturing an increasingly connected
consumer audience in India.
The existing partnership deals with the leading telecom
operators, mobile wallets and OEMs all serve to underpin the
company’s paying subscriber targets at an expected average annual
ARPU of $5 in India and average annual ARPU of $35 internationally.
Eros Now is on track to achieving its FY18 target of 6 to 8 million
paying subscribers and expects to double that base by FY19.
Commenting on the occasion, Rishika Lulla Singh, CEO, Eros
Digital, says, “Our dual strategy of direct-to-consumer
offerings and distributing Eros Now through leading apps across
telecom operators and OEMs continues to drive our exponential
growth. With the launch of 4G in India, Eros is uniquely positioned
to capture the growth given its premium content offerings. I am
also excited as our originals go live soon, which will not only aid
our subscriber growth but also further consolidate our leadership
position.”
About Eros Now
Eros Now is Eros International Plc’s leading on-demand South
Asian entertainment network accessible anytime, anywhere, on most
Internet-connected screen including mobile, web, and TV. With over
10,000 digital titles, Eros Now offers its 80 million registered
users and 5 million paying subscribers 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, multi-language subtitles, 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 for home entertainment distribution.
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/20180109006129/en/
Eros International PlcMark Carbeck, +44-207-258-9909Chief
Corporate and Strategy
Officermark.carbeck@erosintl.comorMedia:Sloane & CompanyErica
Bartsch, +1-212-446-1875ebartsch@sloanepr.com
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