Eros International, one of the major movie production houses in India, is reportedly in talks with online streaming service providers such as Netflix, Apple and others in order to sell its entire content library, including movies and music.
Reports suggests that the company is in preliminary talks with Apple, as well as others online streaming companies such as Amazon and Netflix. Another report pegs the deal at a massive $1 billion.
Mumbai-based JM Financial, which is one of India’s prominent financial services groups, specialising in providing a spectrum of businesses to corporations, financial institutions, high net-worth individuals and retail investors, is reportedly advising Eros on the deal.
Ever since Amazon and Netflix entered the Indian market, they have been working hard to garner the attention of Indian users by adding Hindi and Bollywood offerings to their content offerings.
A report also suggests that the deal is most likely to include Eros’ digital over-the-top (OTT) platform, Eros Now. For the uninitiated, with OTT platforms, subscribers get an opportunity to view films and TV content via the internet, without having to go through the trouble of signing up with a traditional cable or satellite-TV service provider.
To appeal more to the local users, both the media streaming giants — Amazon and Netflix, are looking to produce original contents. Amazon recently released ‘Inside Edge’, a mini-series produced by Farhan Akhtar’s Excel Entertainment.
On the other hand, Netflix has also ordered series for ‘Sacred Games’, starring Saif Ali Khan, Radhika Apte and Nawazuddin Siddique. The company has also recently order two new series from India.