Eros International Media is on the path of transforming itself from a "full studio to a digital company" as it is sensing a great opportunity in the OTT (Over-the-top) media services, the official added.
"We think right now this year, out of USD 260-270 million revenue, digital would be USD 40 million. It's about 25 per cent of the total revenue. Fast forward after three years, digital would be three-quarters," Eros International Group CEO and MD Jyoti Deshpande told reporters here.
Indians are now ready to pay for the movie contents, which are legitimately available for consumption within two to six weeks of their release, Deshpande added.
"The product has to be good and we have 10,000 movies and music videos and more importantly, we are making originals. We are using our access to the film industry to make our own original shows," Deshpande said.
Also Read
"Our goal is that we are going to launch one series a month," she added.
The competition in the video-on-demand space has intensified specially after the launch of Reliance Jio's services that saw data tariffs in the country coming down drastically.
While NetFlix plays in the premium segment, Hotstar and Amazon Prime are also competing aggressively for a share of the customer's viewership.
New players like Yupp TV, Hungama and ALT Balaji are actively expanding their library with original programming to tap into the Indian market.
"In 2016, we had 400,000 paying subscribers and today we have 3.7 million paying subscribers...by March it will hit 6 to 8 million paying subscribers. For 2018-19, we would guide double of that," Deshpande said.
Disclaimer: No Business Standard Journalist was involved in creation of this content