Eros International Plc (NYSE: EROS) (“Eros” or “the
Company”), a leading global company in the Indian film entertainment industry,
today announced that Eros Now, its cutting edge digital over-the-top (OTT)
South Asian entertainment platform, has reached over 100
million registered users and 7.9 million paying
subscribers worldwide as of March 31, 2018. This
substantial growth in paying subscribers represents a 58%
increase over the last reported quarter and a 277%
increase from 2.1 million paying subscribers as of the fiscal year
ended March 31, 2017.
The Company also today reiterated its previous
guidance that its Eros Now paying subscriber base is expected to double over
the next 12 months to approximately 16
million paying subscribers by fiscal year end 2019.
Eros Now recently launched its first worldwide
direct-to-digital original film, Meri Nimmo, in association with acclaimed
director Aanand L Rai, to very positive critical reception. In addition, over
the next year Eros Now is planning to launch a stable of feature films,
made-for-digital originals films and over 20
original episodic programs, all of which will be available exclusively only on
Eros Now to paying subscribers. In addition to exciting new content, several
factors have contributed to the platform’s outsized growth including enhancement
of the consumer experience on the Eros Now service, introduction of pioneering
content innovations and renewed alliances with domestic and international
content distribution partners including the major mobile telecom operators in
India. The recent successes come as a result of the company’s unique
partnership strategy, which has been built upon the agreements with various
distribution partners over the past few years and has been key to delivering
high quality subscribers with increased time spent on the platform. The steady
and robust growth figures are an indication of the loyalty consumers feel
towards the platform.
Speaking on the significant development, Rishika
Lulla Singh, CEO, Eros Digital said, “When we launched three years ago, our
mission was to reach out to viewers looking for differentiated and quality
content. In December 2016, we achieved 2.0
million paying subscribers which doubled to 5
million within a year. This quarter has seen a substantial leap resulting in 58%
Q-on-Q growth. This benchmark is a testament to our strong content library
coupled with a strong tech backbone. I am very confident of our original
content line-up and we are geared up to experience an exponential growth in our
paying subscriber base, this is just the start which will only get better.”
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 100 million registered
users and 7.9 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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