Audioboom Group PLC Heads of Terms with Eros International
January 08 2016 - 2:00AM
RNS Non-Regulatory
TIDMBOOM
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 Tel: 020 7403 6688
Officer
David McDonagh, Chief
Financial Officer
Liberum (NOMAD and Broker) Tel: 020 3100 2000
Neil Patel / Richard
Bootle
Walbrook PR Tel: 020 7933 8780 or audioboom@walbrookpr.com
Sam Allen / Paul McManus Mob: 07884 664 686 / Mob:
07980 541 893
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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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