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Eros Now has 44.4M users and 1% are paid customers; Q4 digital revenues at $20.5M

Eros International has reported digital and ancillary revenues of $20.8 million for the quarter ended March 2016, down 6.3% from $22.8 million in the preceding quarter and up 11.22% from the same quarter last year. For the full year, digital and ancillary revenues stood at $63.9 million up 6.7%. Eros Now, its video streaming service, now has 44 million registered users with a majority of its users in India. The company added that 1% of its user base are paid subscribers and that it expects this to increase to 1 million by the end of the next fiscal. As part of its digital strategy, Eros Now has added short originals called "Black and White" which has interviews with  leading talent from India's film industry. It also has three new shows in its pipeline called Smoke, Lost and Siachen (shot on mobile phone cameras). Eros’s digital businesses also includes 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. Financials: Overall revenues decreased 26.4% to $65.1 million for the quarter, from $88.5 million revenues in the same quarter last year. Net profit stood at $959,000 for the quarter, down from $19.36 million in the same quarter last year. Theatrical revenues: Theatrical revenues decreased to $17.9 million for the quarter, from $44 million revenues in the same quarter last year. Note that these revenues are significantly dependent on number of film releases in a quarter. The company did not release any…

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