RCS - Xfinite Global PLC - Xfinite acquires Eros Now.

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10/07/2023 19:15

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RNS Number : 5601F  Xfinite Global PLC  10 July 2023

 

 

Xfinite acquires Eros Now to launch a full-stack VOD platform for AVOD and
SVOD to unlock a blockchain-powered global content ecosystem.

June 30, 2023, Isle of Man: Xfinite Global Plc, a blockchain based
entertainment ecosystem, announces the acquisition of Eros Now, South Asia's
leading over-the-top video platform with a massive content library of over
12,000+ Indian language movies, originals, short format content and more.

 

Xfinite has been at the forefront of technological innovation and has built a
decentralised entertainment ecosystem by democratising premium content
through Mzaalo, a gamified video streaming platform where users turn their
time and engagement into rewards. The acquisition marks a significant
milestone in Xfinite's journey as it represents the convergence of blockchain
technology and rich content to create a truly exceptional entertainment
experience for consumers. It unlocks the potential of a unified content
ecosystem and hybrid business models such as SVOD and AVOD powered by Mzaalo's
rewards-based ecosystem.

 

The acquisition of Eros Now from Eros Media World Plc will also allow Xfinite
to optimize bottom line and maximise revenue, resulting in significant growth
opportunities for the company. Eros Now has more than 12000 Indian titles in
10 Indian languages across 150 countries through key partnerships with Apple,
Amazon, YouTube, Roku, Comcast, Fetch TV, , Airtel, Tata Play and more.
Additionally, Eros Now's resourceful talent pool, global partnerships, 224+
million cumulative registered users and a massive social media presence, will
enable Xfinite to improve its offering, increase revenue, and target a larger
market share across the globe.

 

According to Swaneet Singh, CEO of Xfinite Global Plc, "We are thrilled to
join forces with Eros Now and combine our strengths to provide consumers with
a new level of entertainment experience. Our blockchain based entertainment
ecosystem, coupled with Eros Now's vast content library and global
partnerships, will enable us to offer a unique and personalized experience to
our users. With this acquisition, we are taking a significant step towards
becoming a leading player in the technology and entertainment industry
worldwide."

 

Ali Hussein, CEO of Eros Now, commented, "We are excited to become a part of
Xfinite's innovative content ecosystem. It allows us to offer consumers a
next-generation entertainment experience that leverages the latest in
blockchain technology. A full stack Video on demand service with premium Eros
content will target a larger consumer audience also allowing for significant
upside on monetization. The innovation on video technology including the
reward platform will be a significant value add to the user.

 

 Xfinite has built a decentralised entertainment ecosystem powered by
blockchain technology where users turn their time and engagement into rewards,
brands advertise with trust and creators build economies. Xfinite's dApp
Mzaalo democratises premium content and rewards users across 600+ established
brands, merchandise, digital goods, games, and celebrity experiences.

 

 

About Xfinite

Xfinite (https://www.xfinite.io/) is a decentralised entertainment ecosystem
where users turn their time and engagement into rewards, brands advertise with
trust and creators build economies. Xfinite democratises premium content
through Mzaalo (https://www.mzaalo.com/) , a play-to-earn VoD platform
offering premium content that rewards users across 600+ established brands,
merchandise, digital goods, games, and celebrity experiences.

 

 

About Eros Media World Plc

Eros Media World Plc. is a global media and entertainment company. For further
information, please visit Erosmediaworld (https://www.erosmediaworld.com/)

 

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