Eros International misses by $0.06, misses on revs (13.05)
- Reports Q4 (Mar) loss of $0.04 per share, $0.06 worse than the single analyst estimate of $0.02; revenues fell 19.0% year/year to $52.7 mln vs the $63.67 mln Capital IQ Consensus.
- Eros' library for digital film rights stands at over 10,000 films, with nearly 50% owned in perpetuity. This represents one of the largest offerings of Indian content and significantly boosts the Eros Now offering. As of June 2017, Eros Now paying subscribers increased by 38% to 2.9 million as compared with 2.1 million paying subscribers as of March 2017. Eros continues to expand global presence and reach with co-production deals signed in China and Turkey. Indo-China co-productions are slated for release FY18-19.
- Outlook Commentary: "Eros Now is on target to achieve 6-8 million paid subscribers at the end of FY2018. Eros Now expects that with encouraging trends in the local markets in the form of crashing data costs and smartphone costs, content consumption through over-the-top platforms will benefit tremendously in a growing digital environment."