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Eros Now has 3.7 million paid subscribers; Digital revenues grows 42% to $20.6M

Eros Now’s paid subscriber base stood at 3.7 million users at the end of September 30 (Q2FY18). Eros said that the number of paid subscribers increased 70% from 2.1 million users on March 31 (Q4FY17). The total number of registered users stood at 75 million. The company reaffirmed its target of 6-8 million paid subscribers. The paid subscribers represented 4.93% of the total registered users.

Eros defines a paying subscribers means any subscriber who has made a valid payment to subscribe to a service that includes the Eros Now service either as part of a bundle or on a standalone basis, either directly or indirectly through a telecom operator or OEM in any given month be it through a daily, weekly or monthly billing pack, as long as the validity of the pack is for at least one month.

During the quarter, revenues from digital and ancillary segment increased by 42.1% to $20.6 million from $14.5 million in the same quarter last year primarily on account of contribution from Eros Now and catalog revenues. The segment accounted for 32.54% of the total revenues.

Total revenues: Total revenue decreased by 12% to $63.3 million, compared to $71.9 million in Q2FY17
– Net profit: Net profit in the quarter stood at $2.2 million compared to the loss of $1.4 million in the same quarter.
– Theatrical revenues: Theatrical revenues decreased by 38% to $19.4 million from $31.3 million in the same quarter last year mainly due to a lower number of films, especially high and medium budget Hindi films. Note that these revenues are significantly dependent on the number of film releases in a quarter. The segment accounted for 30.64% of the revenues.
– Television syndication revenues: Revenues from television syndication decreased by 11.1% to $23.2 million from $26.1 million in Q2FY17.  The segment accounted for 36.65% of the Eros International’s quarterly revenues.

Regional segmentation of revenues:

– India revenues: Revenues from India decreased by 36.3% to $25.4 million in the quarter compared to $39.9 million.

– North America: Revenue from North America decreased by 20% to $0.4 million in the quarter compared to $0.5 million in the quarter last year.

– Europe: Revenues from Europe increased by 8.5% to $5.1 million compared to $4.7 million in Q2FY17.

– Rest of the world: Revenues from rest of the world increased by 20.9% to $32.4 million compared to $26.8 million in Q2FY17.

Download: Press release and financials

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