NEW DELHI: When film production and distribution company Eros International Plc’s shares dropped by as much as 20% earlier this month after being downgraded by two rating agencies, not too many people in the industry were surprised. For starters, its video streaming service Eros Now hasn’t been able to take off. Defending the company, group chairman and CEO of Eros International, Kishore Lulla, said Eros Now had risen to 18.8 million paid subscribers and 154.7 million registered users as on 31 March, far exceeding its target for 2019 of 16 million subscribers. To be sure, Eros has recognized that the subscription market in India is at a latent stage and the real potential lies overseas. “As a result (of the huge investment in digital), Eros had to constrict its movie side a bit.

Source: Mint June 17, 2019 12:33 UTC