Eros International (EROS) Stock Climbs On MSFT Partnership

Eros International EROS Stock News

Eros International plc (NYSE: EROS) is climbing in the market this morning, trading on gains of well over 15% after announcing a new partnership with Microsoft Corporation (NASDAQ: MSFT). Here’s the scoop:

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EROS Heads Up On MSFT Partnership

In a press release issued this morning, Eros International said that it has entered into a new collaboration with Microsoft. Under the collaboration, the two companies will work to build a next generation online video platform on Microsoft Azure.

The platform will be targeted at Azure customers around the world. This is the first time that Microsoft has made a move like this to tap into the streaming video space in India.

Leveraging Micorsoft Azure, EROS said that it will create an intuitive online video platform. The goal here is to provide seamless delvery of content for users across various geographies and languages.

The company said that it will also be working to develop new interactive voice offerings for consumers. Powered by Azure AI tools, these offerings will include app video search experiences and voice search for video content, originally across 10 Indian languages.

Finally, the companies plan on creating a personalized recommendation engine, powered by artificial intelligence tools within Azure AI.

In a statement, Rishika Lulla Singh, CEO at EROS, had the following to offer:

The Online Video market has brought a paradigm shift in the way technology is used and will be used to enhance the customer journey and user experience. We at Eros Now have been the earliest movers in the adoption of technology which is a core strength of the brand. The objective and the goal of this collaboration is to ensure we become the primary innovators for the video business and a gold standard for the others to follow. We have immense respect for Microsoft as a company to help us innovate and pave the path for the next generation of online video.

Peggy Johnson, Executive Vice President at Microsoft, followed up with a statement of her own:

As an innovator in on-demand video, Eros Now has been transforming the way millions of people access and consume content. By using our combined expertise across technology and media, we have an opportunity to build on that foundation and re-imagine entertainment for the rapidly growing audience of digitally-connected consumers in India.

Why This Is Such Big News

For Eros International, this news is monumental. The company has been working to take its share of the streaming video space for some time. Now, it’s partnered with one of the largest companies in the world with a goal of doing just that.

With a partner like MSFT, EROS has access to a large audience. So, once the platform is complete, the revenue opportunity here is incredible. Considering that EROS trades at a sub-$300 million market cap, the opportunity here for investors might be difficult to pass up!

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