Eros International Media Ltd Company Summary

Eros International Media Ltd Summary

Eros International Media Ltd was originally incorporated on August 19, 1994 as a private limited company with the name Rishima International Pvt Ltd. On July 25, 2000, the name of the company was changed from Rishima International Pvt Ltd to Eros Multimedia Pvt Ltd. On November 20, 2008, the company name was changed from Eros Multimedia Pvt Ltd to Eros International Media Pvt Ltd. Further, on September 16, 2009, the company got converted into a public limited company and the name was changed to Eros International Media Ltd on November 18, 2009.The Company, a part of the Eros Group, is a global player within the Indian media and entertainment sector that has been in the business close to three decades. The Eros Group has an extensive film library and is in the business of sourcing Indian and other film content and exploiting it worldwide through its offices in India, UK, USA, UAE, Singapore, Australia, the Isle of Man and Fiji across formats such as theatres, home entertainment, television and digital new media.The company exclusively sources all Indian film content for the Eros Group and exploits such content across formats within India, Nepal and Bhutan. They have various rights to over 1,000 films that include Hindi, Tamil and other regional language films, including films such as Mughal-e-Azam, Om Shanti Om, Lage Raho Munnabhai and Love Aaj Kal, which we consider to be a key competitive advantage and an integral part of their business model. They also own rights to certain English language films for home entertainment distribution within India.The company sources all content primarily through acquisitions from third parties and through co-productions and, occasionally, through their own productions. They mainly acquire films from third party producers at various stages of a films production for an agreed contractual value, and also co-produce films from inception with certain producers for a pre-agreed fixed budget.The company exploit and distribute end-to-end Indian film content through multiple formats such as theatres, home entertainment, principally in the form of DVDs, VCDs and audio CDs, and television syndication, which primarily involves licensing the broadcasting rights to major satellite television broadcasting channels, cable television channels and terrestrial television channels. They also exploit and distribute content via digital new media such as mobile ring tones, wallpapers and downloads, IPTV, DTH and other Internet channels.The company incorporated Eros International Films as a subsidiary company during the year. They acquired the entire business and assets of Jupiter Enterprises with effect from April 1, 1999, through an agreement with Arjan Lulla and Sunil Lulla, the partners of Jupiter Enterprises. Also, they commenced selling home entertainment, for instance VCDs and DVDs.In the year 2005, the company released their first co-produced film, Waqt. In the next year, they released India theatrical and music distribution of the film, Omkara. Also, they launched the Eros Music label. In the year 2007, the company set up a visual effects facility, EyeQube which is an almost 100% owned subsidiary. Also, they entered into a shareholders agreement for the acquisition of 64% in Big Screen Entertainment.In the year 2008, the company entered into Tamil film industry pursuant to the assignment of the Ayngaran SHA to Copsale, by Eros plc. They entered into a joint venture agreement with Universal Music India for talent management. Also, they incorporated their subsidiary, namely Eros Music Publishing for signing lyricists and composers. They released the Heyy Babyy and Om Shanti Om in Blu-Ray high-definition disc format. In the year 2009, the company executed Settlement Agreements with various film exhibitors.The company entered into a relationship agreement with Eros Worldwide and Eros plc, the promoters of the company in which the International Rights for distribution of Indian film content for the entire world excluding India, Nepal and Bhutan are licensed to the Eros International Group with effect from October 1, 2009.In June 2010, the company singed deal with Star Network, which would allow the Rupert Murdoch-owned enterprise to air certain films before they are syndicated to other channels. The deal includes some films, namley Paathshala and Karthik Calling Karthik, Anjaana Anjaanee, Rockstar and Toonpoor Ka Superhero.In July 2010, the company entered into a strategic tie-up with T Series for a part of their forthcoming music slate. The licensing deal will allow Eros to monetize some of their new music titles upfront while T Series will push the distribution in physical and digital formats as well as through radio, television and public performance during the term.During the year 2010-11, the Company completed its listing on the BSE and the NSE exchanges. It raised Rs. 350 Crores through the Initial Public Offering (IPO) of its shares subscribed 29.9 times.The Company in 2010-11, implemented its Digital Asset Management platform (DAM), through comprehensive digitization of its movie library, consisting of more than 1,100 films.An online entertainment platform Eros Now was launched to offer digitised Bollywood film content during the year 2011-12. A wholly owned subsidiary Company was incorporated in Singapore, with the name as Digicine Pte Limited, on 30 March 2012 on production and/or distribution of films, music, programmes, or any other intellectual property rights etc.The Eros?HBO collaboration was one of the most significant deals for the company that was announced in December 2012. Two unique premium advertising free channels showcasing Hollywood and Indian film language content were launched namely ?HBO Defined and HBO Hits in 2012-13.The ultimate parent company viz. Eros International Plc, became the first Indian media company to list on New York Stock Exchanges in November 2013 during the year 2013-14.In 2014-15, the Company launched a Motion Pictures Production Division, Trinity Pictures. In 2016-17, 4 new FTA movie channels were launched by the major broadcasters. In FY2017, Eros International released a total of 44 films including 5 high-budget, 10 medium-budget and 29 low-budget films.In 2020, the ultimate parent company, Eros International Plc got merged with STX Entertainment. On 30 July 2020, the ultimate parent company, Eros International Plc changed its name to Eros STX Global Corporation pursuant to the merger with STX Entertainment, merging two marquee international media and entertainment groups.