Heads of Terms with Eros International

RNS Number : 2170L

Audioboom Group PLC

08 January 2016

 

8 January 2016

Audioboom Group plc

(the "Company" or "Audioboom")

Heads of Terms with Eros International

Audioboom (AIM: BOOM), the leading spoken-word audio on-demand platform, is pleased to announce that it has signed binding Heads of Terms with Eros International Plc (NYSE: EROS) ("Eros"), a leading global company in the Indian film entertainment industry, in respect of ErosNow, Eros' digital OTT platform. The Heads of Terms provide for Eros to partner with Audioboom for its upcoming launch in India and will equip ErosNow's 30 million registered users with access to exclusive Audioboom local and global podcasts and entertainment, comedy, sports, news and current affairs content.

Through the partnership, ErosNow users will be able to personalise their own listening experience within the ErosNow app, with access to music and spoken word audio on-demand as well as films and TV shows. Eros will provide Audioboom with access to the very best of Bollywood acting talent for the creation and distribution of exclusive spoken-word audio content for the Indian market and beyond.

A key element of the proposed partnership will see Audioboom responsible for all audio content curation (music and spoken word), ad sales and ad campaign delivery within the audio section of the ErosNow mobile and web applications.  The parties will operate an advertising revenue share arrangement.

Pending the signing of a long form agreement, the parties will work together closely around technical integration and ad sales implementation.

Rob Proctor, CEO of Audioboom, commented:"I am excited to be partnering with Eros and continue our global expansion with the leading entertainment company in India. We're delighted to bring Audioboom's extensive audio content to Eros' massive audience, and to be creating high-quality audio with some of Eros' biggest Bollywood stars. The opportunity to create highly-sought after on-demand audio, along with the potential revenue opportunities that this brings, gives us significant first mover advantage in this very important and lucrative market."

Rishika Lulla Singh, CEO of Eros Digital, added: "We're always looking for new ways to engage and connect our users to their favorite celebrities on ErosNow, offering behind the scenes exclusives and star cast interviews. With their focus on sharing content and social network integration, the Audioboom platform is the perfect partner for ErosNow, providing a new medium for our talent to connect with their fans."

Audioboom Group plc	www.audioboomplc.com
Rob Proctor, Chief Executive Officer David McDonagh, Chief Financial Officer	Tel: [phone]
Liberum (NOMAD and Broker) Neil Patel / Richard Bootle	Tel:  [phone]
Walbrook PR	Tel: [phone] or [e-mail]
Sam Allen / Paul McManus	Mob: [phone] / Mob: [phone]

About Audioboom (www.audioboom.com)

Audioboom is the leading spoken-word audio platform for hosting, distributing and monetising content. Audioboom works with 2,400 broadcasters, content creators and podcasters around the world - including Cumulus, the BBC, the Telegraph, Sky Sports, the Premier League, Associated Press, The Sun, NBC Sports Radio, Undisclosed, Global and Bauer - hosting almost 7,000 content channels.

Audioboom's hosting and distribution platform allows partners to embed, share via social channels and re-syndicate their content.  Audioboom content receives more than 30m listens per month, and growing. Additionally, Audioboom works with its partners to monetise their audio via live in-reads,  the dynamic insertion of pre and post roll audio adverts, and video ads.

About ErosNow

ErosNow is Eros International Plc's leading on-demand Bollywood entertainment network accessible anytime, anywhere, on nearly any Internet-connected screen. ErosNow offers its 30 million plus registered users the promise of endless entertainment hosting the largest library of films, as well as premium television shows, music videos and audio tracks, unmatched in quantity and quality. Premieres of latest films before their television window and high quality original drama series also differentiate the ErosNow offering.  For further information please visit: www.erosnow.com

About Eros International Plc

Eros International Plc (NYSE: EROS) is a leading global company in the Indian film entertainment industry that acquires, co-produces and distributes Indian films across all available formats such as cinema, television and digital new media. Eros International Plc became the first Indian media company to list on the New York Stock Exchange. Eros International has experience of over three decades in establishing a global platform for Indian cinema. The Company has an extensive and growing movie library comprising of over 3,000 films, which include Hindi, Tamil, and other regional language films for home entertainment distribution. The Company also owns the rapidly growing OTT platform ErosNow. For further information please visit: www.erosplc.com.

 

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