KOLKATA: Eros International and STX Filmworks completed the big Bollywood-Hollywood merger last month. The newly combined company Eros STX Global Corporation forecasts 50 million monthly paid subscribers for Eros Now and generate $1 billion in revenue for the calendar year 2022.

Eros Now reached 33.8 million paid monthly subscribers and 205.8 million registered users as of 30 June. “Despite the business challenges arising from the pandemic, Eros STX has seen a substantial increase in both new subscriptions and consumer engagement on the Eros Now platform driven by increased time spent at home as well as fewer out-of-home entertainment options available,” Eros STX Global co-chairman and CEO Robert Simonds said.

 “Eros Now has a strong slate of films and original series scheduled for release over the coming quarters, and the Company expects this to help drive continued growth in the paying subscriber base in India and around the world. Consumers are watching more content on the platform than ever before, an acceleration of growth that will provide strong tailwinds to the combined business for the coming quarters,” he added.

Simonds seems extremely optimistic about Eros Now as he said it has one of the largest libraries of local and regional language content in the Indian marketplace which would take a significant investment of capital for a competitor to even try to replicate it. He also cited the independent, third-party valuation that was done in February which valued Eros library at $1 billion approximately. 

Other than Eros Now, Eros STX’s co-production with some of the largest global players like Amazon and Netflix also opens another growth window for the company.