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New Media is gaining momentum

Eros International (who pretty much control most of foreign distribution of Indian films, especially with the acquisition of Ayangaran, the Eros of Tamil movies) recently announced their FY 2008 earnings numbers. Check the details here.

I noticed Eros’s new media sources alone brought in $28 million. Of course, the portfolio of film and music content they have is huge and compelling that their strategy is clear : monetize every penny out of every bit of content they have. Obviously, they want to operate as a true Hollywood studio.

Its interesting to see the source of these new media revenues : video on demand from US & other foreign cable providers, music sales for mobile phones (likely download of full songs or ringtones) through iTunes and also retail sales through Amazon and WalMart. They also signed deals with Sony Pictures and LionsGate and expect a flood load of dubbed, remade and cross0ver movies across the two continents. Last but not least, they have YouTube channel which produces revenues through advertising. I also read that they have inked deals with Joost and Jaman for online streaming licensing…How is that for milking your cow?? Way to go!

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