iWorld
ErosNow launches on Jadoo TV OTT platform worldwide
MUMBAI: Jadoo TV’s parent company CloudStream Media, Inc has inked a partnership with Eros International to bring the ErosNow streaming service to the Jadoo TV over-the-top (OTT) streaming platform worldwide.
With this deal, Jadoo TV’s consumers will get instant access to Bollywood movies, television shows and music videos. Jadoo TV will make the ErosNow premium service available starting September 2015 for free to Jadoo4 users for the first year, amounting to a $100 value.
With this latest announcement, Jadoo TV continues to provide its customers with an industry leading line up of on-demand and live South Asian film and television content on its.
ErosNow premium service users on Jadoo TV will see films releasing immediately after their theatrical release and prior to their television release. ErosNow will also include in-house flagship original programming delivering shows with film-like production values. Content across several genres that include reality shows, adaptations of international series, and original productions spanning drama, comedy and thrillers will also be made available. Full seasons of these shows and series will be available for viewing exclusively on ErosNow.
“Partnering with Eros is an exciting opportunity for us as it significantly bolsters our on-demand content offering, allowing our customers access to the latest selection of high quality Bollywood and regional movies, television shows, and music videos. Jadoo TV is the leading platform for the South Asian diaspora, and we believe that this partnership will significantly change the digital media distribution landscape,” said CloudStream Media, Inc CEO and Jadoo TV founder Sajid Sohail.
iWorld
Universal Music to sell half its Spotify stake, expand buyback plan
Ackman pressure mounts as label posts €2.9bn revenue and strong subscription growth
HILVERSUM: Universal Music Group has unveiled plans to sell half of its stake in Spotify and double its share buyback programme to €1 billion, signalling a sharper capital strategy as investor scrutiny intensifies.
The company said it will launch an additional €500 million buyback after completing the €500 million programme announced in March, taking the total authorisation to €1 billion. Proceeds from the Spotify stake sale will help fund the buyback and will also be shared with artists, in line with long-standing commitments.
The move comes amid pressure from billionaire investor Bill Ackman, whose firm Pershing Square Capital Management holds over 4.5 per cent of UMG. Ackman recently made an unsolicited offer valuing the company at around $64 billion to $65 billion and has argued that the label’s shares are undervalued.
As part of his proposal, Ackman suggested selling the entire Spotify stake to raise €1.5 billion after taxes and artist payouts, while also pushing for a US listing and changes to the company’s financial reporting structure. UMG’s board has instead opted to move independently, approving a partial stake sale on its own terms.
The decision also aligns with what is informally known as the “Taylor Swift clause”, a commitment made when Taylor Swift re-signed with the label in 2018, ensuring that any proceeds from Spotify stake sales are shared with artists on a non-recoupable basis.
With investor pressure building and strategic levers now in motion, UMG appears to be striking a careful balance between rewarding shareholders and reinforcing its long-term growth play in the streaming era.
