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HomeNewsNew MediaDigital to contribute 50% of Eros’ projected revenue for FY20
Thursday, 10 October 2019 08:46

Digital to contribute 50% of Eros’ projected revenue for FY20

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The OTT platform Eros Now is expected to contribute half of parent company Eros’s FY revenue projection of USD200-220 million.

At present, the revenue split between the studio and the digital business is 65:35 in favour of studio. The company is also targeting adjusted of $80-95 million. It also aims to be debt-free in the long-term.

Eros International Plc Executive Chairman, Group CEO & MD Kishore Lulla said: “For FY20, we are forecasting consolidated revenue in the range of $200 million to $220 million, adjusted EBITDA of $80 million to $95 million, and the net debt in the range of $100 million to $110 million. Over the longer term, our goal is to be a net debt neutral company.” 

He added that the company’s Capex budget on content will be anywhere north of $150 million to $175 million, and the next year about $200 million.

Eros International Plc CFO Prem Parameswaran commented that the company generated $43.5 million in revenues in Q1 FY20 compared to $60.2 million in the first quarter of 2019 on a like for like basis.

Eros Digital chairman, CEO Rishika Lulla said the guidance of 50 million paid subscribers over three years and crossing the 200 million registered user benchmark this year.

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