If the deal between Eros Group and Apple Inc actually follows through, it would mean over 3000 Indian movies (both from Bollywood and regional cinema) from the Eros library will be available via Apple.
According to sources cited by The Economic Times, Eros Group, the largest movie producer in India, has been discussing the sale of its entire portfolio of films and music with Apple, as well as rivals Amazon (AMZN - Free Report) and Netflix (NFLX - Free Report).
The Eros library includes blockbusters from the Hindi film industry, known as Bollywood, such as "Bajrangi Bhaijaan", "Dabangg" and "Bajirao Mastani". Amazon and Netflix are also said to be kicking the tires in what would be a potential $1B deal that could include Eros' streaming platform Eros Now, per The Economic Times. While some Bollywood stars have stumbled this year, local content is overwhelmingly preferred by moviegoers in a market where box office skews 90% towards homegrown fare. It has close to 2.9M paid subscribers and 68M registered users.
Eros intends to keep more than 50% of the rights it presently owns until December 31, 2025.
The Indian digital landscape is ripe for rapid growth, while the global diaspora is a huge consumer of content from home.
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As of now, more than 150 films of Salman Khan are streaming on the website.
On the other hand, Netflix has also ordered series for "Sacred Games", starring Saif Ali Khan, Radhika Apte and Nawazuddin Siddique. Deadline has reached out for comment.
Eros Music now sits under Eros International. Since the deal is in a very early stage, spokesperson from either Eros or Apple declined to share the details of the deal. Eros Plc takes charge of overseas distribution and Eros Now, while Eros India is primarily responsible for content creation.
In order to tidy up its structure pre-acquisition, Eros Group is planning a reverse merger of its NYSE-listed subsidiary Eros International and the India-based parent Eros International Media, which handles the majority of content production.