We are very pleased to be a part of Joost and to be able to create Eros-branded music video and movie services
London, UK (PRWEB) October 11, 2007
Eros International, the London listed leading player in Indian media and entertainment, announced today that it will provide more than 200 Bollywood movies and over 600 music videos from Eros' catalogue including blockbusters such as 1942 A Love Story and Salaam - E - Ishq, to Joost™ (http://www.joost.com), the world's first broadcast-quality Internet television service.
"We are very pleased to be a part of Joost and to be able to create Eros-branded music video and movie services," said Marcus Stuart, EVP of Corporate Development & New Media with Eros International.
"We are strong supporters of advertising-supported business models and believe Joost's ability to deliver targeted and interactive advertisements will benefit consumers and marketers equally. This ability poises the company to expand the video distribution business and capture an enormous market opportunity."
Yvette Alberdingk Thijm, Executive Vice President, Content Strategy and Acquisition, said, "Bollywood films and music have seen tremendous growth recently, and demand continues to grow. With Joost, people around the world are able to watch these movies and music videos for free. As a global entertainment platform, Joost is a destination where people connect over shared interests, like Bollywood. Our partnership with Eros demonstrates the variety of the programming available on Joost."
Founded by Janus Friis and Niklas Zennström, Joost combines the best of TV and the best of the Internet by offering viewers a full-screen audiovisual experience enhanced with the choice, control and flexibility of Web 2.0. Joost is the first online, global TV distribution platform, bringing together advertisers, content owners and viewers in an interactive, community-driven environment.
This deal is in line with Eros's strategic focus on new media and follows initiatives with partners such as Comcast, YouTube and Sky.
About Eros International plc
Eros International plc is an established global player in the fast-growing Indian media and entertainment arena. Being vertically integrated means that Eros not only produces and commissions films like studios but it also distributes and exploits films across formats globally via cinemas, home entertainment, television formats and new media.
Established in 1977, Eros International has three decades of market leadership in creating a global platform for Indian cinema. The company operates in over 50 countries with worldwide offices in India, UK, USA, Dubai, Australia, Fiji and Isle of Man. It has built a successful business model around the release of 30-40 new films every year and the exploitation of a film library containing more than 1,300 titles, making it one of the largest content owners in the business.
Global Distribution, Motion Pictures, Music, Home Entertainment, e-Television, New Media and Animation are the main Strategic Business Units of Eros.
Eros enters its 30th year in the business with the Vision of consolidating the fragmented industry, the Strategy of operating a vertically integrated business model.
For more information visit http://www.erosplc.com
Evolution Securities (NOMAD to the Company) +44 (0)20 7071 4300
Eros International +44 (0)20 8963 8777
Kishore Lulla - Chairman & CEO
Jyoti Deshpande - COO & Commercial Director
Andrew Heffernan - CFO
Brunswick +44 (0)20 7404 5959
In early 2006, Janus Friis and Niklas Zennström started gathering the world's best engineers, web gurus and media visionaries to start building Joost, under the code name of The Venice Project. More than a year of very hard work later, their vision is ready for public viewing.
In that time, Joost has grown from a handful of people in a small office outside Amsterdam to more than 100 people spread right across Europe and North America. Joost is already a global venture, bringing TV to a global, highly networked community. And already, it's setting new standards for 21st-century entertainment.
What's Joost? It's free TV, with the choice to watch alone or with friends. Joost is packed with internet tools such as instant messaging and channel chat, allowing people to really share the TV experience. It's a completely secure platform for content owners that respects their rights, while protecting and enhancing their brands. And it's an incredibly flexible way for advertisers to reach a truly global audience, in ways that really work. Joost isn't just video on the internet – it's the next generation of television for viewers, content owners and advertisers everywhere.
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