Eros Now Announces Over Two Million Paid Subscribers
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.”