Eros STX to focus on US & China markets, digital content

MUMBAI: Indian motion picture production company Eros International is pivoting from films toward a digital content and distribution business in the US and China as part of its post-Covid strategy.“Since the last three years, we were working towards reducing our reliance on the theatrical revenues,” said Kishore Lulla, chairman of NYSE and BSE-listed Eros International. “Given the way the industry is impacted by the Covid-19 outbreak, we believe this business will not be the same. I don’t think that there is any growth in the theatrical business as social distancing will be the new normal for another 18 months.”Talking to ET after stitching a deal with independent Hollywood studio STX Entertainment, Lulla, who is also the CEO, said this is the first instance of a Hollywood studio merging with an Indian company.“At a time when the world is in lockdown mode, we have signed this deal and big investors like TPG and Hony Capital are investing,” Lulla said.Eros and STX Entertainment had announced a merger on Saturday to form Eros STX Global.

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