Eros New Media Revenues Up 16.9% To 113.8 Crores

Eros International, the film production and distribution giant, posted 47% rise from 2007 in pre-tax profits $45.5 million. Its sales were 70% higher in the last financial year to 113 million dollars. 5 out of the top 10 box office successes were Eros releases with Om Shanti Om becoming the highest all time grosser.

Before you balk at the new media revenues, which rose 16.9% to $27.7 million (Rs 113.8 Crores) from $23.7 million in 2007, these include revenues from the subscription video on demand platforms on Comcast (NSDQ: CMCSA), Rogers and Mauritius Telecom, SingNet and Aksh Optifibre amongst others. Sales for Eros Music on mobile as well as platforms such as iTunes are part of the figure. They also include digital distribution deals concluded with Amazon (NSDQ: AMZN) and Walmart as well as ad revenue accrued from Eros’s partner channel on Youtube. No mention of Eros deals with Joost, Jaman nor revenues from its own broadband site.

In addition, Eros exercised its option on B4U shares and now owns 24% of the worldwide Movies and Music network of B4U channels. Eros has invested $200 million across 60 contracted projects to create a release schedule until 2010. Unaudited Results here