Eros International, the Indian movie production company, is in discussions with Amazon, Netflix and Apple to sell the rights to its 3,400-plus film and music library, Reuters reports. Their deal could be worth as much as $1.2 billion, according to Economic Times, which first reported the negotiations. However, the worth of Giant Eros’ film and music library is less than $1 billion. Bollywood films in the Eros portfolio are “Bajrangi Bhaijaan,” “Bajirao Mastani” and “Dabangg.”
The details of this deal
Eros Group may sign a contract with Apple in coming weeks.
The talks are at a preliminary stage. Netflix and Amazon are two other content distribution companies that may sign contracts with Eros. The deal might include Bollywood films, American singles, Indian songs and several television shows.
Eros had previously signed similar contracts with 21st Century Fox, Sony, Zee, and Viacom to sell its content library. Eros Now has 2.5 million paid subscribers and over a 120 million registered users. All of its subscribers will have access to the premier entertainment content once the deal is finalized.
Through this deal, Apple, Amazon, and Netflix will get a big bump in terms of quality movie content that will help in getting more subscribers in coming months.
It will also make the Indian OTT market better and more competitive than before. On a smaller level, salman khan signed a deal with Amazon Prime Video wherein all his new movies would be available to Amazon Prime subscribers, along with his past films. As of now, more than 150 films of Salman Khan are streaming on the website.
Shah Rukh Khan also signed a similar contract with Netflix a few months ago. His Red Chillies Entertainment made a deal with the streaming giant worth $600 million.
Eros International Media
Eros International is the first Asian company to list on the Alternative Investment Market of the London Stock Exchange. Discussions are on to monetize the library and its content, and one can expect an announcement on the issue in coming days.
The company has produced, acquired and distributed Bollywood films in multiple formats worldwide, including television syndication, theoretical and digital platforms. Launched in 2012, Eros has rights to over 6,000 movies in ten languages and more than 250,000 audio tracks from thirteen music labels. The platform has more than fifty million registered users worldwide and is accessible via internet-enabled devices. Eros International, Amazon, Netflix, and Apple have declined to comment on the reports.
