Eros International’s over-the-top platform Eros Now has 10 million paid subscribers and 113 million registered users, with a presence in 135 countries including in India. The platform has seen steep growth in paid subscribers – in Q2FY18, it only had 3.7 million paid subscribers.

For Eros, a paying subscribers means any subscriber who has made a valid payment to subscribe to a service that includes Eros Now 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.

The platform drives subscriptions via content partnerships with the largest Indian telcos – Reliance Jio, Vodafone, Idea (now merged as Vodafone Idea) and Airtel.

The company said revenue was driven by new releases in original content – both web series and films. It has released content in Telugu, Hindi and Marathi in the quarter. Eros Now also has originals planned with ‘Smoke’ releasing last week, and another 8-episode series ‘Side Hero’ which released in September.

Some numbers

  • Total profit: Rs 54 crore, 10 times of total profit in Q2FY18 which was Rs 5.2 crore
  • Profit after Tax (PAT): Rs 77 crore, up by 34% YoY from Rs 57 crore
  • Total income: Rs 320 crore, up by 17% YoY from Rs 274 crore
  • EBIT: Rs 107 crore, up by 17% YoY

Notable recent developments

  • Signed content partnerships with Grofers and Freecharge
  • International expansion:
    • Expanded to China via a license agreement with Chinese streaming service iQiyi
    • Launched in Sri Lanka in partnership with telco Dialog Axiata
    • Launched in Indonesia in partnership with Xiaomi (Mi TV)

Download: Press Release | Investor Presentation