Eros Media World Announces Association with Ministry of Investment in Kingdom of Saudi Arabia (MISA)

Rhea-AI Summary

Eros Media World PLC (NYSE: EMWP) has entered into a partnership with the Ministry of Investment in Saudi Arabia to explore opportunities in film and entertainment content production. This collaboration, formalized at the Future Investment Initiative in Riyadh (October 25-27, 2022), aims to support Eros Media's expansion in Saudi Arabia and align with the government's Vision 2030 goals. The partnership will facilitate local partnerships and investments, enhancing Eros Media's position in the region and contributing to a full spectrum content ecosystem with Web 3.0 integration.

Positive

• Partnership with the Saudi Ministry of Investment to develop local opportunities.
• Alignment with Saudi Arabia's Vision 2030, which is focused on media and entertainment growth.
• Access to local partnerships and investors, promoting regional expansion.

Negative

• None.

~ The two entities formalized their association at Future Investment Initiative (FII) being held in Riyadh from 25-27 October 2022 ~

~ Together they will focus on supporting each other in exploring and creating opportunities in Film & Entertainment content production ~

DOUGLAS, Isle of Man--(BUSINESS WIRE)-- Eros Media World PLC ("ErosMedia", "Eros" or the "Company") (NYSE: EMWP), a global Indian media and entertainment company, has announced an association with the Ministry of Investment in Kingdom of Saudi Arabia (“MISA”) to develop investment opportunities and projects in the region. The two entities formalized their association at the sixth edition of the Future Investment Initiative (FII) held in Riyadh from 25-27 October 2022. The event, established by the FII Institute with Public Investment Fund (“PIF”) as founding partner has convened the world's foremost CEOs, policymakers, investors, entrepreneurs, and young leaders to shape the future of international investment and the global economy with Ministry of Investment as a Vision Partner and many other global strategic partners.

As a part of this association, MISA will assist ErosMedia in its expansion in Saudi Arabia. MISA will also support ErosMedia in forging local partnerships and engaging with multiple investors. ErosMedia is committed to developing and producing content, enabling specialized knowledge transfer, and mounting feature films and episodic web-series - a full spectrum content ecosystem, enabled for web 3.0. in the region.

In August this year, ErosMedia announced its foray into the rapidly growing Saudi Arabian market to identify synergies with various Saudi Arabian government initiatives designed to foster growth in the media & entertainment, and technology space under its Vision 2030. This partnership with MISA will allow ErosMedia to explore further suitable opportunities to expand and contribute to the government's vision in the region.

Commenting on the association, Pradeep Dwivedi, Group CEO, Eros Media World, says, "We are thrilled to partner with the Ministry of Investment in the Kingdom of Saudi Arabia (MISA) in its vision to accelerate reforms in the kingdom. We are an over four-decade-old media company with a global footprint that always has leveraged technology as an advantage. We have embraced the new age Web 3 revolution that is poised to alter this industry. He further adds, "This collaboration will allow us to explore opportunities in the media and entertainment space, contribute to the government's vision, help strengthen Eros Media World's position in the region and create value for our investors and stakeholders."

The Future Investment Initiative (FII) was announced in September 2017 by the Public Investment Fund (PIF), Saudi Arabia's main sovereign wealth fund, in the context of the Saudi Vision 2030 program of economic and social reform. Its goal is to catalyse positive impact in five focus areas: Education, Healthcare, Sustainability, Artificial Intelligence and Robotics which is achieved through working across three pillars – THINK, XCHANGE, ACT – to empower the brightest minds, create platforms for knowledge sharing and partnership and invest in real-world solutions that benefit everyone.

About Eros Media World Plc

Eros Media World Plc, (“Eros”, the “Company”) (NYSE: EMWP) is a global media and entertainment company that acquires, co-produces and distributes films, digital content and music across multiple formats such as theatrical, television, OTT digital media streaming and emerging web 3.0 ecosystem to consumers around the world. The Company also owns the leading South Asian OTT platform Eros Now, which has rights to over 12,000 films across major Indian languages. For further information, please visit www.ErosMediaWorld.com.

About Ministry of Investment in Kingdom of Saudi Arabia (MISA)

The ongoing transformation of Saudi Arabia under the Vision 2030 plan is unlocking new opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by developing a vibrant cross-government investment ecosystem, while supporting businesses throughout their investment journey.

Through a network of dynamic business centers across the Kingdom, MISA partners with local and international businesses of all scales and sizes—from startups to blue chip multinationals—to help make investing in the Kingdom as streamlined and simple as possible.

MISA takes a lead role in improving Saudi Arabia’s overall business environment, commissioning multiple market intelligence studies every year and developing local opportunities for joint ventures.

Vision:

To place Saudi Arabia among the top performing markets for investments.

Mission:

To promote Saudi Arabia as a world-class investment destination, attract and retain investors, and expand their investments, for the benefit of a sustainable national economic growth.

Values:

• Trusted & credible

• Impact-oriented

• Partnership

• Committed

For further information, please visit: https://misa.gov.sa/en/

View source version on businesswire.com: https://www.businesswire.com/news/home/20221026006056/en/

For further information:

Priyank Dubey

Priyank.dubey@erosintl.com

Phone: +919769350650

Source: Eros Media World PLC

FAQ

What is the significance of Eros Media's partnership with Saudi Arabia's Ministry of Investment (MISA)?

Eros Media's partnership with MISA aims to explore investment opportunities in film and entertainment, supporting the company's expansion in Saudi Arabia.

Where was the partnership between Eros Media and MISA announced?

The partnership was announced at the Future Investment Initiative in Riyadh, held from October 25-27, 2022.

How does Eros Media plan to contribute to Saudi Arabia's Vision 2030?

Eros Media plans to align its content production efforts with Vision 2030 initiatives, focusing on media and entertainment growth in the region.

What is Eros Media World PLC's stock symbol?

Eros Media World PLC trades under the stock symbol EMWP on the NYSE.

What opportunities will Eros Media explore in Saudi Arabia?

Eros Media will explore opportunities in content production, including feature films and web series, leveraging local partnerships and investments.