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Eros International raises $30M to expand OTT service

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Eros International raises $30M to expand OTT service

film studio Eros International raised about $30 million through aprivate placement, Television Post reported Sept. 23.

The fundswill mainly be used for the expansion of Eros Now, the company's over-the-top platform.

Eros Now, which has more than 1 million active paidsubscribers, is aiming for 2 million subscribers by the end of fiscal year 2017and 5 million by fiscal year 2018, according to the report. TheOTT service has more than 49 million registered users worldwide.