Film Production
Eros numbers up in second quarter
BENGALURU: The Sunil Lulla-led Indian film and media company Eros International Media Ltd (Eros) reported a 9.2 per cent jump in operating revenue for the quarter ended 30 September 2018 (Q2 2019, period or quarter under review) as compared to the corresponding year ago quarter (y-o-y comparison). Profit after tax (PAT) and total comprehensive income (TCI) for the period under review jumped 34.4 per cent and 109.3 per cent (more than doubled) respectively y-o-y. Total income increased 17 per cent y-o-y in Q2 2019.
Eros reported operating revenue of Rs 292.88 crore for Q2 2019 as compared to Rs 268.26 crore. Total revenue during the quarter under review was Rs 320.56 crore as compared to Rs 273.93 crore in Q2 2018. PAT in Q2 2019 was Rs 77.31 crore as compared to Rs 57.51 crore in Q2 2018. TCI in Q 2019 was Rs 131.33 crore as compared to Rs 62.76 crore in the corresponding year ago quarter.
The company released 17 films and one digital series in Q2 2019 as compared to 14 films in the previous quarter (Q1 2019). Contribution by overseas revenue to operating revenue almost doubled to 23.7 per cent during the period under review as compared to 12.6 per cent of operating revenues in Q2 2018. Theatrical revenues contributed 28.1 per cent to overall revenues in Q2 2019 as compared to 30.7 per cent in Q2 2018. Contribution to total revenue from television and others in Q 2019 was 48.2 per cent as compared to 56.7 per cent in the corresponding year ago quarter.
Eros reported 10.9 per cent y-o-y increase in total expenditure in Q2 2019 at Rs 7231.36 crore from Rs 208.54 crore in Q2 2018. Films rights costs including amortisation costs increased 25.2 per cet y-o-y to Rs 148.87 crore from Rs 118.95 crore in the corresponding quarter of the previous fiscal. Employee benefits expense in Q2 2019 declined 12.4 per cent y-o-y to Rs 13.18 crore from Rs 15.04 crore in Q2 2018.
Finance costs reduced 17.8 per cent y-o-y in Q2 2019 to Rs 21.36 crore from Rs 54.22 crore in the previous year. Other expenses increase 1 per cent y-o-y in Q2 2019 to Rs 51.22 crore from Rs 50.71 crore in Q2 2018.
Company speak
Eros executive chairman and managing director Lulla said, “We are happy to report a strong performance during the Q2 and H1 FY2019 which has been a result of our continuous focus on building a portfolio of content driven films that appeal to a wide cross-section of audiences, produced at optimum costs and marketed around the world across diverse entertainment platforms. During Q2
FY2019, we released a total of 17 films & 1 Digital series, comprising of the hit franchise Happy Phirr Bhag Jayegi, the critically acclaimed Manmarziyan, Vishal Bharadwaj directed Patakhaa, Saakshyam (Telugu), Tc.Gn – Take Care Good Night (Marathi) amongst others. Overseas releases of Batti Gul Meter Chalu (Hindi) and Nawabzaade (Hindi) further supported performance during the quarter.”
“With our strategy of being a leading producer in digital content, we released an ErosNow1 8-episode original series directed by Rohan Sippy, Side Hero which was received very well by the global audiences. Going forward, we have a refreshing slate of high-potential ErosNow originals with crime drama Smoke releasing today. We believe with the roll-out of our original series we will be able to capture the attention of the fast growing millennial and post-millennial audiences,” said Lulla.
“H2 FY19 has begun well for us with the successful release of Boyz 2 (Marathi), Tummbad as well as Andhadhun (overseas), Helicopter Eela (overseas) and Namaste England (overseas) at the box office. Further, we have a growing and compelling line-up for the remainder of FY 2019 and FY2020. As we look forward, our proven content acquisition and co-production model, our strong partnerships with Colour Yellow Production, Reliance Industries and the latest partnership V. Vijayendra Prasad as well as our Indo-China collaborations will be the key differentiator in the forthcoming quarters”
Film Production
Priyanka Kaur Dhillon joins SVF Entertainment as lead for music distribution
A seasoned content dealmaker with 16 years in digital and satellite media joins the Bengali entertainment powerhouse as it pushes into the pan-India music market
Mumbai: Priyanka Kaur Dhillon has made her move. The content acquisitions and commercials veteran, most recently commercial manager at Sony Pictures Networks India, has joined SVF Entertainment as lead for music distribution, stepping into one of the more interesting briefs in regional entertainment right now.
SVF is no ordinary regional label. Over 30 years it has built a formidable legacy in Bengali cinema and music, driven by culturally resonant storytelling and a catalogue that consistently punches above its weight. Its recent success with Chiraiya underlines the point. But the Kolkata-based powerhouse now has its sights firmly set beyond Bengal, most visibly through Legacy, a rap reality series produced in collaboration with hip-hop label Kalamkaar that signals a deliberate push into the pan-India music ecosystem.
Dhillon brings precisely the kind of muscle SVF needs for that expansion. At Sony Pictures Networks India, she led film acquisition and commercials and handled music licensing across the entire satellite network. Before that, she spent nearly 15 years at Hungama, rising to assistant general manager and leading strategic content licensing for the platform’s digital entertainment business, with a particular focus on international markets. Her label relationships span the full roster: Sony Music, Universal Music, Warner Music, Believe International, Tunecore, The Orchard and a clutch of smaller aggregators. She has negotiated and closed deals with Hollywood studios, Bollywood production houses and regional content players alike, building pricing models and deal structures off data analysis rather than instinct.
Announcing the appointment, Dhillon said she was “thrilled to begin this journey with an iconic Bengali music label and content powerhouse,” adding that SVF’s “constant drive to push boundaries” was what drew her to the role.
SVF has spent three decades proving that regional does not mean limited. With a sharp commercial operator now steering its music distribution, its bid to go national just got a good deal more serious.
