Eros STX to focus on US & China markets, digital content

MUMBAI: Indian motion picture production company Eros International is pivoting from films toward a digital content and distribution business in the US and China as part of its post-Covid strategy.

“Since the last three years, we were working towards reducing our reliance on the theatrical revenues,” said Kishore Lulla, chairman of NYSE and BSE-listed Eros International. “Given the way the industry is impacted by the Covid-19 outbreak, we believe this business will not be the same. I don’t think that there is any growth in the theatrical business as social distancing will be the new normal for another 18 months.”

Talking to
ET after stitching a deal with independent Hollywood studio STX Entertainment, Lulla, who is also the CEO, said this is the first instance of a Hollywood studio merging with an Indian company.

“At a time when the world is in lockdown mode, we have signed this deal and big investors like TPG and Hony Capital are investing,” Lulla said.

Eros and STX Entertainment had announced a merger on Saturday to form Eros STX Global.