Eros Now Strengthens Reach in the Middle East with Marketing Partnerships with Leading Consumer Brands

Rhea-AI Summary

Eros Now, owned by Eros STX Global Corporation (NYSE: ESGC), has forged marketing partnerships with major consumer brands in the Middle East, including Emirates NBD, National Bank of Fujairah, Fazaa, 6thStreet, and Emax. These collaborations aim to enhance user engagement by offering discounts on annual subscriptions. The online video subscription market in the MENA region is rapidly growing, with a projected revenue of over $400 million by 2023. As of September 30, 2020, Eros Now had 211.5 million registered users and 36.2 million paying subscribers, showcasing its strong market presence.

Positive

• New partnerships with Emirates NBD, National Bank of Fujairah, Fazaa, 6thStreet, and Emax to boost customer engagement.
• Potential to increase Eros Now’s subscriber base in the growing Middle East market.
• The MENA online video subscription market projected to reach nearly 5 million consumers and over $400 million in revenue by 2023.
• Strong existing user base with 211.5 million registered users and 36.2 million paying subscribers as of September 30, 2020.

Negative

• None.

Eros Now, the over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC), a Global Entertainment Company, today announced multiple marketing partnerships with leading consumer brands in the Middle East to enhance audiences' online video streaming experience. The new partnerships include: Emirates NBD and National Bank of Fujairah; Fazaa, a social initiative that aims to develop social interdependence and maintain effective bonds of solidarity within the UAE community; 6thStreet, a retailer of High Street fashion brands for women, men and kids; and Emax, one of the largest electronics retailers in the UAE. Customers of these brands will be entitled to limited time discounts on annual Eros Now subscriptions. These collaborations are designed to reward a growing number of customers with preferential rates that will help encourage Eros Now engagement and loyalty, and deepen Eros Now’s presence in the region.

The online subscription video market is proliferating in the Middle East and North Africa (MENA) with a majority of the demand coming from UAE and Saudi Arabia, which together account for 49% of the total subscriptions in MENA. By 2023, the online video subscription market is expected to reach almost five million consumers and annual revenue of over $400 million, according to a recent IHS Market report. Eros Now is home to some of the most entertaining Indian movies and especially Bollywood films that have a large and loyal fan base in the Middle East, as well as popular original programmes, short-format content (including Quickies) and music. The Eros Now platform has been present in the Middle East for several years and enjoys a strong and growing audience base in the region.

Commenting on these new partnerships in the Middle East, Ali Hussein, CEO, Eros Now said, "The global market for Indian entertainment enables Eros Now to intensify its connections across geographies, and the Middle East is a key territory. Our strong position in the market has helped in collaborating with all these leading brands to offer an exciting discount to potential customers. We expect these partnerships to attract a massive audience base for Eros Now, which presents the best of Indian entertainment across genres and formats."

Mr. Narayan Agarwal, Chief Financial Officer, Emax said, “We are extremely excited to collaborate with Eros Now. We believe in offering our customers the best price and great customer service, and providing smart offerings which complement their need. Eros Now is the perfect offering as it caters to the audiences rising demand for online content. Eros Now is a growing online streaming platform with Bollywood’s biggest movies and it has some of the best OTT content available to watch."

Mr. Dharmin Ved, Chief Executive Officer, 6thStreet.com added, “Premium brands need to work towards creating unique experiences for their customers. Eros Now already has a massive content library that excites the interest of many online video streaming enthusiasts. This collaboration is another step towards us striving to deliver added benefits to our customer and thinking outside the box.”

About Eros STX Global Corporation:

Eros STX Global Corporation, (“ErosSTX”) (NYSE: ESGC) is a global entertainment company that acquires, co-produces and distributes films, digital content & music across multiple formats such as theatrical, television and OTT digital media streaming to consumers around the world. Eros International Plc changed its name to Eros STX Global Corporation pursuant to the July 2020 merger with STX Entertainment, merging two international media and entertainment groups. The combination of one of the largest Indian OTT players and premier studio with one of Hollywood’s fastest-growing independent media companies has created an entertainment powerhouse with a presence in over 150 countries. ErosSTX delivers star-driven premium feature film and episodic content across a multitude of platforms at the intersection of the world's most dynamic and fastest-growing global markets, including US, India, Middle East, Asia and China. The company also owns the rapidly growing OTT platform Eros Now which has rights to over 12,000 films across Hindi and regional languages and had 211.5 million registered users and 36.2 million paying subscribers as of September 30, 2020. For further information, please visit ErosSTX.com.

About Eros Now:

Eros Now, a division of Eros STX Global Corporation, is the world’s leading Indian OTT platform with over 211.5 million registered users and 36.2 million paying subscribers. It offers endless entertainment hosting one of the largest movie libraries (over 12,000 digital titles), as well as premium television shows, music and music videos, unmatched in quantity and quality. Eros Now also has a deep library of short-form content, totalling over 4,400 short-form videos including trailers, original short exclusive interviews, and marketing shorts. To date Eros Now has successfully premiered over 180 films in nine different languages including Hindi, English, Tamil, Bengali, Marathi, Gujarati, Malayalam, Telugu, and Punjabi. To see, watch now: www.erosnow.com.

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FAQ

What are the recent partnerships announced by Eros Now?

Eros Now has announced marketing partnerships with Emirates NBD, National Bank of Fujairah, Fazaa, 6thStreet, and Emax in the Middle East.

How many subscribers does Eros Now have?

As of September 30, 2020, Eros Now had 36.2 million paying subscribers.

What is the expected growth of the online video subscription market in MENA by 2023?

The online video subscription market in MENA is expected to reach almost 5 million consumers and generate over $400 million in revenue by 2023.

How does Eros Now plan to enhance customer engagement?

Eros Now aims to enhance customer engagement through partnerships offering discounts on annual subscriptions.

What is Eros STX Global Corporation’s stock symbol?

Eros STX Global Corporation trades under the stock symbol ESGC.