Eros Regulatory News (EROS)



Regulatory News for Eros (EROS)


Share Price: 233.50Bid: 231.00Ask: 236.00Change: 0.00 (0.00%)No Movement on Eros
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Eros' iPad application is the no.1 Indian download

Mon, 28th Nov 2011 07:00

RNS Number : 8472S
Eros International PLC
28 November 2011
 

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Eros' iPad application becomes the no.1 downloaded

Entertainment application in India

 

London, November 28, 2011: Eros International plc ('Eros' or 'the Company'), the leading global company for Indian filmed entertainment, announces the soft release on 11th November of its dedicated Eros iPad application and is delighted to note that in India it is already the No.1 downloaded entertainment application and ranks in the top ten of downloaded applications across all categories .

 

The launch of the application signals Eros' intent to deliver its premium content across new digital formats, particularly within India where:

  • Growth rates in the Indian Media & Entertainment digital sub-sector are estimated to be c.30%;

  • The advent and consumer take-up of tablets and smart device computers and their suitability as a platform for audio-visual media is rapidly increasing; 

  • The Government target of 600 million internet users in the next 5 years, making India the largest online population in the world, is expected to be met by mobile internet and other 3G connectivity.

The planned roll out of 4G spectrum in 2012 will further ignite the consumption of data-rich entertainment content.

 

As such, Eros' iPad application launch complements macro growth drivers within the Indian Media & Entertainment industry, Indian government

policy as well as the company's own digital strategy.  Furthermore, the company's progress during 2011 in digitalising its 2,100-strong film library

is enabling the Group to monetise its intellectual property and has positioned itself well to service the new digital products and services expected

in 2012.

 

Ricky Ghai, CEO of Eros Digital, said: "We are delighted that the launch of the Eros iPad application has been so well received in India without any marketing or promotion. This is the first of many new and exciting digital / new media initiatives that Eros Digital intends to rollout in the near future."

 

For further information, please contact:

 

Eros International Plc

Jamie Kirkwood - Head of Investor Relations & Special Projects

T: +44 (0) 20 7258 9906      

 

Evolution Securities Limited

Nominated Adviser

Jeremy Ellis / Chris Clarke

T:  +44 (0) 20 7071 4300      

 

Investec Bank Plc

Joint broker

Patrick Robb / Carlton Nelson

T: +44 (0) 20 7597 5000      

 

Peel Hunt LLP

Joint broker

Richard Kauffer / Dan Harris / Andy Crossley

T: +44 (0) 20 7418 8900      

 

Pelham Bell Pottinger

Nick Lambert / Victoria Geoghegan

T: +44 (0) 20 7861 3232      

 

 

About Eros International Plc: 

  • Eros acquires, co-produces and distributes quality Indian film content, worldwide, across multiple formats
  • Established in 1977 with a vision to become the gateway for Indian content worldwide and Hollywood content in India, Eros has over three decades of market experience in creating a global platform for Indian cinema
  • In 2006, Eros became the first Indian media company to obtain a listing on the AIM Market of the London Stock Exchange
  • In October 2010, Eros International listed its Indian subsidiary Eros International Media on the BSE & NSE in India. Eros operates in five continents and over 50 countries with offices throughout India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man

This information is provided by RNS
The company news service from the London Stock Exchange
 
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Related Shares: Eros International (EROS).




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