Bollywood studio Eros International has formed an investment deal worth up to £2.1m with Singapore based ANYTIME, a leading supplier of Video-on-demand, to distribute Hollywood movies on digital platforms throughout India.
Subject to final due diligence, Eros will take a minority stake in ANYTIME, which counts 4 major Hollywood studios as its shareholders. The Joint Venture will see the companies licensing and distributing Hollywood content to Indian service providers as well to consumers over the open internet.
The deal will also involve an Eros-branded Bollywood VOD service showcasing Eros' library of over 1,300 titles in the 14 Asia Pacific countries where the ANYTIME service has a licence to operate.
Kishore Lulla, chairman and chief executive of Eros says: "ANYTIME's Hollywood digital entertainment services, technical programming and marketing expertise complement Eros' strategic vision for expanding choice for consumers in India. Working with ANYTIME will help us further expand the reach of our Bollywood film library."
Craig Zimbulis, president and CEO of ANYTIME adds: "ANYTIME is excited about the value this partnership with Eros International brings to our shareholders and consumers by expanding ANYTIME's Hollywood on demand entertainment to a massive Indian market and taking Eros' premium Bollywood content on VOD to the Asia Pacific region"