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Eros may sign a deal with Apple for $1 billion to sell its OTT platform 07 August 2017

ErosNow Apple Inc

Eros’ OTT platform Eros Now may be sold to Apple Inc including its entire content library of films and music for around $1 billion.

Eros is also in talks with rival big players like Amazon and Netflix. Eros Pls is the firm that manages the overseas distribution of movies, which includes Eros Now and owns 73% of Eros India.

With this deal, Apple will enter the OTT territory. As per reports from TelevisionPost.com, there was a 38% jump in its paying subscribers to 2.9 million as of June 2017. Eros Now’s revenue until March 2017 was $14 million. Eros expects to post a target revenue in excess of $40 million in FY18 and $100 million in FY19.

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