wordpress blog stats
Connect with us

Hi, what are you looking for?

Eros International’s total revenues decreases 39.74% to $60.5M in Q3 FY16


Eros International has reported digital & ancillary revenues of $22.2 million for the quarter ended December 31, 2015, registering an increase of 4.23% from $21.3 million in the same quarter last year.  The segment accounted for 36.7% of Eros International’s quarterly revenues but accounted for 21.2% of total revenues in the same quarter last year.

Total revenues stood at $60.5 million in the quarter, down 39.74% from $100.4 million in the same quarter last year.

Eros’s digital businesses include its video on demand service Eros Now, its YouTube channel, and more significantly, it’s distribution via cable based VoD services called “Bollywood Hits On Demand” with Cox, Rogers, Cablevision and Time Warner, apart from services in the UK and Middle East.

Theatrical revenues: Theatrical revenues decreased to $25.8 million for the quarter, from $42.8 million revenues in the same quarter last year. However, note that these revenues are significantly dependent on number of film releases in a quarter.

The company had released one high budget movie, four medium budget movies and 10 low budget movies during the quarter as against three high budget films, one medium budget film and nine low budget films.

Advertisement. Scroll to continue reading.

The segment accounted for 42.7% of Eros International’s quarterly revenues, up marginally from 42.6% contribution in the same quarter last year.

Television syndication revenues: The television syndication revenues were at $12.5 million for the quarter, down from $36.3 million in the same quarter last year. The segment accounted for 20.6% of the Eros International’s quarterly revenues, as compared to 36.2% contribution in the same quarter last year.

Regional segmentation of revenues

India: Revenues by customer location in India increased 13% to $34 million for the quarter, from $30.1 million in the same quarter last year.

North America: Revenue by customer location in North America increased to $4.1 million for the quarter, from $0.9 million in the same quarter last year due to change in film mix in both the periods.

Europe: Revenue by customer location in Europe decreased 58.3% to $6.3 million compared to $15.1 million in the same period last year.

Advertisement. Scroll to continue reading.

Rest Of The World: Revenue from the rest of the world decreased 70.3% to $16.1 million for the quarter, from $54.3 million revenues in the same quarter last year.


The overall revenues decreased 39.74% to $60.5 million for the quarter, from $100.4 million revenues in the same quarter last year. The net profit also decreased 108% to $12.3 million for the quarter, from $30 million in the same quarter last year.

Other developments

– Eros said that it appointed Skadden, Arps, Slate, Meagher & Flom LLP and affiliates, a New York law firm, to assist it in undertaking an internal review regarding allegations of overstating its theatrical revenues and and revenues from its digital business. More on that here, here and here. “The internal review is at an advanced stage and we are satisfied with its progress. We expect to conclude our review in March and to make a further statement at the time,” the company said.

– The company said that it has begun monetizing its digital platform Eros Now. From December 2015, Eros launched its new two-tier premium pricing in India of Rs 50 ($0.77) and Rs 100 ($1.54) per month. “The Company continues to progress in converting its registered users to paying subscribers, currently at under 1% of its user base, and expects to reach 1 million paying subscribers by the end of Fiscal Year 2017,” it added.

Advertisement. Scroll to continue reading.

– The company signed integration deals with Airtel and Idea Cellular for Eros Now. The company is exploring other deals with telecom operators.

– UK based audio content streaming provider Audioboom (previously known as Audioboo) signed an agreement with Eros Now to launch its service in India.

– Eros Now has rights to over 4,750 films across Hindi and regional languages from Eros’s internal library as well as third party aggregated content. Eros Now also aggregates music from 13 Indian music labels and offers over 200,000 music tracks.

– Eros also announced that it is producing four new original shows in 2016. The shows are Flip (April 2016), Lost (July 2016), Smoke (September 2016) and Legacy (November 2016).

Advertisement. Scroll to continue reading.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.



The DSCI's guidelines are patient-centric and act as a data privacy roadmap for healthcare service providers.


In this excerpt from the book, the authors focus on personal data and autocracies. One in particular – Russia.  Autocracies always prioritize information control...


By Jai Vipra, Senior Resident Fellow at Vidhi Centre for Legal Policy The use of new technology, including facial recognition technology (FRT) by police...


By Stella Joseph, Prakhil Mishra, and Yash Desai The Government of India circulated proposed amendments to the Consumer Protection (E-Commerce) Rules, 2020 (“E-Commerce Rules”) which...


By Rahul Rai and Shruti Aji Murali A little less than a year since their release, the Consumer Protection (E-commerce) Rules, 2020 is being amended....

You May Also Like


Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...


By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...


135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...


Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ