Eros Now, the over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation (NYSE: ESGC), a Global Entertainment Company, today announced multiple marketing partnerships with leading consumer brands in the Middle East to enhance audiences’ online video streaming experience.
The new partnerships include: Emirates NBD and National Bank of Fujairah; Fazaa, a social initiative that aims to develop social interdependence and maintain effective bonds of solidarity within the UAE community; 6thStreet, a retailer of High Street fashion brands for women, men and kids; and Emax, one of the largest electronics retailers in the UAE. Customers of these brands will be entitled to limited time discounts on annual Eros Now subscriptions. These collaborations are designed to reward a growing number of customers with preferential rates that will help encourage Eros Now engagement and loyalty, and deepen Eros Now’s presence in the region.
The online subscription video market is proliferating in the Middle East and North Africa (MENA) with a majority of the demand coming from UAE and Saudi Arabia, which together account for 49% of the total subscriptions in MENA. By 2023, the online video subscription market is expected to reach almost five million consumers and annual revenue of over $400 million, according to a recent IHS Market report. Eros Now is home to some of the most entertaining Indian movies and especially Bollywood films that have a large and loyal fan base in the Middle East, as well as popular original programmes, short-format content (including Quickies) and music. The Eros Now platform has been present in the Middle East for several years and enjoys a strong and growing audience base in the region.
Commenting on these new partnerships in the Middle East, Ali Hussein, CEO, Eros Now said, “The global market for Indian entertainment enables Eros Now to intensify its connections across geographies, and the Middle East is a key territory. Our strong position in the market has helped in collaborating with all these leading brands to offer an exciting discount to potential customers. We expect these partnerships to attract a massive audience base for Eros Now, which presents the best of Indian entertainment across genres and formats.”
Mr. Narayan Agarwal, Chief Financial Officer, Emax said, “We are extremely excited to collaborate with Eros Now. We believe in offering our customers the best price and great customer service, and providing smart offerings which complement their need. Eros Now is the perfect offering as it caters to the audiences rising demand for online content. Eros Now is a growing online streaming platform with Bollywood’s biggest movies and it has some of the best OTT content available to watch.”
Mr. Dharmin Ved, Chief Executive Officer, 6thStreet.com added, “Premium brands need to work towards creating unique experiences for their customers. Eros Now already has a massive content library that excites the interest of many online video streaming enthusiasts. This collaboration is another step towards us striving to deliver added benefits to our customer and thinking outside the box.”