Bollywood studio Eros International has entered into an investment deal with Singapore-based ANYTIME, a supplier of video-on-demand (VOD) Hollywood entertainment in Asia. Eros would be taking a stake in ANYTIME as well as a seat on its Board, subject to final due diligence and agreement of full terms.
As part of the deal, Eros-branded Bollywood VOD service showcasing the studio’s library of over 1,300 titles will be launched in 14 Asia Pacific countries where ANYTIME has a license to operate.
A major part of the deal will involve the companies launching a fully integrated joint venture to license and distribute Hollywood content for VOD in India, with Eros as the majority shareholder. The joint venture will provide fully programmed and customised premium Hollywood content services to local service providers as well as to consumers over the Internet.
ANYTIME is the VOD channel over IPTV, broadband and digital cable networks in the Asia Pacific region. With four of Hollywood’s major studios and Intel as its shareholders, ANYTIME has an extensive library of current and library titles available on demand.
Kishore Lulla, Chairman and CEO, Eros, said, “ANYTIME’s Hollywood digital entertainment services, world-class 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 extensive Bollywood film library.”
Craig Zimbulis, President and CEO of ANYTIME, said, “ANYTIME is excited about the tremendous 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.”