ErosNow, the digital video streaming platform of Eros International, announced that it has crossed 30 million registered users as of September 30. For the quarter ended June 30, the company had reported 26.5 million users. It’s worth noting that Eros does not disclose monthly active users and the revenues earned from the digital service.
Nonetheless, this represents a 114.29% jump in the number of registered users in six months. In December 2014, the company had 14 million users, and 19 million at the end of March 31, 2015.
The increase in the number of registered users ties in well with Eros’ new digital-first strategy. Following investor calls to focus on their digital platform in June, Eros has been beefing up its digital offerings. In July, Eros announced that it would produce three original shows which would be streamed on its video on demand platform Eros Now. It also mentioned that Eros Now would premiere some of its recent Bollywood releases on the digital platform first and then on TV. At the same time, Eros has tied up with Anil Kapoor Film Company to co-produce an Indian adaptation of a popular international sitcom.
Falling digital revenues
However, it needs to be pointed out that revenues from its digital and ancillary business have been falling since the past three quarters. Digital revenues stood at $21.3 million at the end of Q3 FY15, $18.7 million at the end of Q4 FY15 and $6.3 million at end of Q1 FY16.
– Earlier this month, Eros acquired UK-based song sharing app PingTune that allows users to discover, share and listen to music. The platform also allows users to choose a specific section of the tune or video to send from sources like YouTube and SoundCloud. In addition, PingTune enables artists to create and own official profiles so that they can interact and deliver content directly to fans. Eros says that the acquisition will strengthen its digital platform and will be part of its Eros Digital subsidiary.
– Bharti Airtel and Eros Now entered into a partnership to offer the movie and video content from Eros Now and other partners on Airtel’s Wynk application. Wynk users can access Bollywood movies from ErosNow, including new and old movies like Tanu Weds Manu Returns, Badlapur and NH 10 before they premiere on television.
– In June, Eros International Media’s video streaming platform Eros Now inked a content acquisition deal with Pakistan’s Hum TV. Under the deal, Eros Now would get Hum TV’s entire TV library including current TV shows. In addition, Indian subscribers get to view the content 48 hours prior to its telecast on any other platform.