India’s Bollywood distributor giant, Eros International has inked a content licensing agreement in China with Chinese streaming business iQIYI.
Eros elaborated the agreement as a content-licensing pact for ‘Eros Now,’its own streaming video vertical. In a statement, it stated,“Eros Now becomes the first South Asian OTT player to make inroads into the Chinese digital space.”
In the recent past, Eros has announced many advanced business deals that support to expand the operation of ‘Eros Now’ in other regions. In both India and Indonesia, ‘Eros Now’ will be included as part of the Mi TV platform run by Chinese cell phones and hardware company Xiaomi.
Indian movies have witnessed an increase in popularity in China, after films ‘Dangal,’ ‘Secret Superstar,’ ‘Hindi Medium,’ and other turning into hit.
There are some attempts are being made by the businesses to set up co-production movies between the two neighbouring countries. The two, often rival countries when it comes to geopolitical and economic issues.
‘Xuanzang,’ was a joint work of Eros and China Film Group. It was a China’s failed submission to the foreign language Oscar category in 2016.
iQIYI with more than £14.48 billion market capitalization is operating both advertisement based and subscription models. The company claims to have 500 million monthly active users 60 million routine customers.