Eros STX Global Corporation has the resources and capability to develop, produce and distribute Bollywood and Hollywood premium content at scale and across platforms
Indian film and web content studio Eros International has merged with US-based STX Entertainment to create an independent content production and distribution company–Eros STX Global Corporation–with operations across India, China and the USA. Eros STX Global Corporation will be led by Kishore Lulla as executive co-chairman, Robert Simonds as co-chairman and chief executive officer, Andrew Warren as chief financial officer, Rishika Lulla Singh and Noah Fogelson as co-presidents, and Prem Parameswaran as head of corporate strategy.
“This merger will not only fuel our growth but will also diversify our underlying sources of revenue and subscribers with a truly global play, building a powerhouse between East and West. We are well-positioned to create long-term value for our shareholders, partners and employees,” Kishore Lulla, executive chairman and chief executive officer, Eros International, said.
Eros STX Global Corporation is projected to release about 40 feature-length films, including seven sequels to prior hits and over 100 originals of episodic content, in 2020. Its global multi-channel distribution will play out across pay-TV platform Showtime, digital services Netflix, Hulu, Amazon and Eros Now. Eros Now’s strategic and distribution partnerships with Apple, NBCUniversal, Microsoft and YouTube, as well as STX Entertainment’s global output and distribution agreements covering over 150 territories, will provide unique opportunities for rapid content proliferation. “(For the combined entity) OTT is going to be the focus for the next three to six months. Once the pandemic situation eases, we will look at expanding to the theatres,” Pradeep Dwivedi, CEO, Eros International Media told FE’s Ashmita Dey.
Eros Now claims to have over 26 million paid subscribers and more than 188 million registered users (customers coming through bundled packs with telcos and other partnerships). The OTT firm is targeting over 50 million paid subscribers by 2022. “We wanted to create the world’s first Hollywood-Bollywood combination studio that would not only create content globally but also address the demand globally,” Dwivedi said.
STX Entertainment is a fully-integrated global media company specialising in the production, marketing, and distribution of talent-driven motion picture, television and multimedia content. It is the first major entertainment and media company to be launched at this scale in Hollywood in more than twenty years. Founded in 2014, STX Entertainment is an independent Hollywood studio producing, marketing and distributing film and television content across traditional and digital media platforms. It has titles such as Hustlers, Bad Moms and The Upside to its credit.