Sources suggest that the largest movie producer in India will be selling its entire content library of films and songs for about Rs6,000 crore.
Eros Group to sell its library of movies and films to Apple?
Mumbai - 09 Aug 2017 12:59 IST
Updated : 13:43 IST
Eros Group is in talks with Apple to sell its library of over 3,000 films across Hindi and other regional languages.Talks are also simultaneously on with Netflix and Amazon, according to a report by daily, Economics Times.
This move comes as a part of a restructuring exercise for the reverse merger of the NYSE listed parent company Eros International Plc into locally listed subsidiary Eros International Media by the end of the financial year.
Founded in 1977, Eros has been involved in the acquisition, co-production, and distribution of Indian language films across multiple formats. Eros Plc handles the overseas distribution of the films and houses Eros Now. Eros India, however, is primarily responsible for content creation.
Netflix has already signed deals with Shah Rukh Khan to stream his upcoming films, and a library of their blockbuster hits over the last decade, on their digital platform. The company is also looking to produce original Indian content, including a collaboration with Saif Ali Khan and Nawazuddin Siddiqui based on Vikram Chandra's bestseller, Sacred Games. There have been unconfirmed reports that the company has also approached Sridevi for another upcoming project.
Amazon Prime Video, too, has signed a deal with Salman Khan that gives it the digital and premiere rights for his films. After their theatrical release, the actor’s films will be first shown on the online streaming service, two months before satellite television broadcast or any other form of distribution. Apart from his forthcoming films, existing titles like Tubelight, Bajrangi Bhaijaan, Kick, Jai Ho and Hero will also be available on Amazon Prime as part of the deal.
Amazon launched their first original Indian series, Inside Edge, last month. The series, starring Vivek Oberoi, Richa Chadha, and Angad Bedi, was produced by Farhan Akhtar and Riteish Sidhwani's Excel Entertainment. The company is also in talks with directors Zoya Akhtar and Reema Kagti to direct two more original series for their digital platform.