Eros International PLC
(NYSE:EROS) (“Eros”), a leading global company in the Indian film entertainment
industry, announced today a strategic partnership with leading Russian
distribution and production company Central Partnership(CP), affiliate of
Gazprom Media Holding, to promote and distribute Indian and Russian content
across multiple platforms in both countries.
This association includes exploitation via licensing of
intellectual property rights owned by each party in their respective markets
and distribution of film projects for both India and Russia, opening the market
for the two companies to explore new geographies. CP will dub films from Eros’
extensive film library in Russian language which will enable the company to
cater to a much larger audience in Russia and CIS. Eros can further utilize the
dubbed content on its digital platform, Eros Now, to reach out to a wider
audience in Russia.
With the rapid growth of satellite pay TV in Russia,
there is an increased demand for premium digital and television content. This
alliance will pave the way for CP to showcase extensive repository of Bollywood
films from the Eros library on pay TV. Furthermore, CP will also approach free
TV channels to explore showcasing of Indian titles. Similarly, Eros will
endeavor to distribute CP media assets on Indian television.
This collaboration will also enable the launch of Eros Now,
the on-demand OTT digital platform of EROS, in Russia and CIS. CP will endeavor
to showcase Eros Now’s VOD content on the leading digital distribution network
RUFORM through Rutube (web video streaming service targeted in Russia) while
Eros will facilitate featuring Russian content on Eros Now.
Commenting on the milestone, Jyoti Deshpande, Group CEO
& Managing Director, Eros International Plc said, “India and Russia have
historically always enjoyed a strong and strategic relationship. With our entry
into the Russian market, we continue to build our strong global position and
are delighted to take the lead in associating with the prestigious Russian film
company Central Partnership. Russia’s domestic market potential is promising
and coupled with the rise in digital consumption by local audiences, we see a
huge opportunity in exploiting exciting, unique and high-quality content
together to reach audiences across the two diasporas.”
Pavel Stepanov, CEO, Central Partnership added, “Our
strategic partnership with EROS is a big step for both companies in their
international expansion, since content from India is now underrepresented in
Russia and vice-versa. Our plan is to benefit from both companies’ leading
positions in domestic markets to change this layout. Moreover, historically
India and Russiahave been close, and we expect this collaboration to flourish
in the light of the current political climate.”
FACT SHEET
Russia’s box office grew in the first half of this year
by 8.6% to 29 billion rubles (US$413 million), while
attendance was up year-on-year by 9% (112 million tickets sold). Foreign
films continue to be the main driver of growth in the market. Between
January-June box office for foreign films grew by 9.6% to 23 billion rubles (US$327 million), while
attendance rose from 78.6
million to 88
million. Meanwhile, box office for Russian films in the period increased by 5.1%, to about 6.1 billion rubles (US$87 million), while attendance
improved fractionally from 24.5
million to 24.7
million people.
Source: Screen Daily
About Eros International Plc
Eros International Plc (NYSE:EROS) is a leading global
company in the Indian film entertainment industry that acquires, co-produces
and distributes Indian films across all available formats such as cinema, television
and digital new media. Eros International Plcbecame the first Indian media
company to list on the New York Stock Exchange. Eros International has
experience of over three decades in establishing a global platform for Indian
cinema. The Company has an extensive and growing movie library comprising of
over 3,000
films, which include Hindi, Tamil, and other regional language films for home
entertainment distribution. The Company also owns the rapidly growing OTT
platform Eros Now. In 2015,
3 out of
the top 4
box office films and 7
out of the top 15
box office films were from Eros. For further information, please visit:
www.erosplc.com.
About Central Partnership
Central Partnership Film Company was established in 1996. It incorporates Central
Partnership Production and Central Partnership Sales House distributing
theatrical and TV rights. Central Partnership owns the largest library in
Russia comprising over 700
features and 3300
hours of TV series. Central Partnership is an exclusive distributor of Paramount
Pictures in Russia, and a similar contract with Summit Entertainment, the
largest independent studio, was signed in 2012. In February 2014 Central Partnershiphave
been affiliated to Gazprom–Media Holding. For further information please visit:
www.centpart.ru
