Eros International Plc Group CEO Jyoti Deshpande said the company is shifting away from box office dependence and focusing on online video streaming instead, Mint reported Dec. 11.
The Bollywood studio, which operates the over-the-top streaming service Eros Now, wants to transition itself into a digital content company. Eros plans to do that by only investing in low-cost films suitable for digital platforms. The company reportedly commissioned six films which will be released directly on Eros Now.
About 25% of Eros' overall revenue comes from Eros Now, with the company expecting that share to increase to 75% in three years.
The development comes several months after Eros Group was reported to be in discussions with Apple Inc., Amazon.com Inc. and Netflix Inc. for the possible sale of its entire content library and Eros Now.
