iQiyi signs an agreement with the Indian film company Eros

11/09/2018

 

Eros is a leading global company in the Indian film entertainment industry, and it co-produce, acquire and distribute Indian language films

 

Eros International PLC has announced that it has signed a contract with the streaming service iQiyi Inc. According to the agreement, the Indian film company will supply iQiyi with Indian films such as Bollywood blockbusters Dabangg and Devdas.

Even if the terms of the agreement are not yet well known, Eros has announced that he will soon publish his catalogue of Indian films, which Chinese viewers will be able to see by October.

 

Netflix Inc signed a similar deal last year with iQiyi

 

Eros International Media Ltd is an Indian motion picture production and distribution company, based in Mumbai. Actually, its streaming service Eros Now has rights to over 5,000 movies in various Indian languages and it has 10.1 million paid subscribers in India.

Kishore Lulla, Eros International’s Chief Executive, said in an interview: “We are targeting about US$10 million in revenue in the first year through this deal”.

 

Chinese viewers will be able to watch about 100 movies within the next month

 

The biggest obstacle for Eros, however, is the strict rules imposed to streaming services in China. In fact, films and foreign series are constantly censored, preventing companies like Netflix and Amazon.com from conquering the Chinese market.

“Until the whole regulatory environment changes in China, I want the Eros Now brand penetration within the Chinese audiences through this deal. Within the next 2-3 years, when the regulatory environment will allow Eros Now to be launched directly to the Chinese audiences, we will do that in a partnership with any of the online platforms in China,” Lulla said in an interview.

Needless to say, China is a fundamental goal for the Indian film industry. In fact, the Indian film industry is the largest in the world for film releases, and China can become an excellent investment.

 

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