Bollywood Giant Eros in Talks With Apple, Netflix, Amazon to Sell Film Library (Report)

Eros International, the Indian movie production and distribution giant, is in discussions with Apple, Netflix and Amazon to sell the rights to its 3,000-plus film and music library, according to reports.

A deal could be worth as much as $1 billion, according to India’s Economic Times, which first reported the talks. However, the value of its film library is worth less than $1 billion, according to a Reuters report citing an anonymous source who confirmed the talks.

Bollywood blockbusters in the Eros portfolio include “Bajrangi Bhaijaan” (starring Salman Khan, pictured above), “Dabangg” and “Bajirao Mastani.”

Eros had previously attempted engaged with broadcasters including Sony, 21st Century Fox’s Star India, Viacom and Zee to sell its content library, per Reuters.

In a statement, Mumbai-based Eros International Media Ltd. said, “we are not privy to any strategic discussions that our NYSE-listed parent company Eros International PLC may be having with various potential partners.”

Eros International, as well as Apple, Netflix and Amazon, have declined to comment on the reports. Shares of Eros International shot up more than 16% Monday on the reports of the talks.

A deal with Apple, Netflix or Amazon may include Eros Now, the Indian media company’s digital over-the-top entertainment service, according to the reports. Launched in 2012, the platform has rights to over 5,000 movies in 10 Indian languages and over 250,000 audio tracks from 13 Indian music labels. The platform is accessible via internet-enabled devices and has registered 55 million registered users globally.

Both Netflix and Amazon have launched streaming-video services in India. Last month, Amazon announced a deal with Bollywood superstar Salman Khan to stream library and future titles, and premiered “Inside Edge” on Amazon Prime Video, about the worlds of cricket and entertainment, as the first of 18 Indian original series. Netflix’s Indian original series include Mumbai-set “Selection Day,” a story of cricket and corruption, and female-led detective series “Again”; the streaming giant also has struck a long-term relationship with Bollywood megastar Shah Rukh Khan’s production house, Red Chillies Entertainment.

Mumbai-based financial services firm JM Financial is advising Eros in the talks, according to the Economic Times.

For the year ended March 31, 2017, Eros reported revenue of $253 million (down 8% year over year) and net income of $11.5 million (versus $13.3 million in the year-earlier period). In fiscal year 2017, net debt increased to $157.6 million compared with $120.4 million. The company is led by chairman Kishore Lulla.

Popular on Variety

More Digital

  • YouTube logo

    YouTube Reportedly to Stop Targeting Ads in Videos for Children

    YouTube is finalizing a plan under which it would no longer serve targeted ads in videos that are popular with kids, Bloomberg reported, citing anonymous sources. The move is intended to appease U.S. regulators that have been investigating whether YouTube violated privacy laws that prohibit online services from collecting data on children, according to the [...]

  • Facebook

    Facebook Looking to Hire Journalists for Curated News Section

    Facebook is looking to assemble a small team of journalists to help curate a news tab within its app. The team of 10 media professionals will complement algorithmic curation, and highlight the top stories of the day, according to a New York Times report. “We are building a new surface for news that will give [...]

  • Best Podcasts: 14 Podcasts You Should

    14 Podcasts You Should Be Listening to

    Here are a few of the informative, funny, thrilling and downright addictive podcasts that deserve your listening attention. Read Variety’s cover story, a deep dive into the podcast revolution with Conan O’Brien, right here. CaliphateThe New York Times Rukmini Callimachi’s reporting about the Islamic State is harrowing boots-on-the-ground journalism at its finest. Conan O’Brien Needs [...]

  • Lee-Daniels-headshot

    Lee Daniels Entertainment Announces Diverse Creative Workshop

    Lee Daniels Entertainment and the online entertainment network Represent by OMV have launched a diversity-focused creative workshop to promote a diverse group of new writers. The workshop will be held from Sept. 25-28 in Los Angeles, with travel provided by American Airlines. Industry professionals will mentor aspiring creatives from underrepresented communities with workshops, meetings with [...]

  • Apple-Card-on-iPhoneXs-screen

    Apple Card Launches in U.S. With 3% Cash Back on Apple, Uber Purchases

    Apple launched Apple Card, a new credit card tied to iPhones that it’s offering in partnership with Mastercard and Goldman Sachs, broadly in the U.S. The card, available to all qualified users in the U.S. starting Tuesday, is designed to encourage people to make more purchases from Apple — including apps, games, media content and subscriptions [...]

More From Our Brands

Access exclusive content