Eros International, India's leading global film entertainment company, has announced landmark deals with three major most-respected Chinese state owned film and entertainment companies to promote, co-produce, distribute and unlock value in respective intellectual properties for Sino-Indian films across all platforms in both the countries.
The Memorandum of Understandings (MoUs) were signed by Sunil Lulla, managing director, Eros at the recently concluded India-China Business Forum in Shanghai, attended by Indian Prime Minster, Narendra Modi.
The MoUs entail the prospective co-production and distribution of Sino-Indian films with several Chinese government owned production houses including China Film Group Corporation (CFGC) and Shanghai Film Group Corporation (SFG). Eros has also announced one of its first projects, co-produced with CFC titled DA TANG XUAN ZANG (Monk Xuan Zang) starring China’s most popular and multi faceted actor, Huang Xiaoming, directed by Huo Jianq. This first co-production project opens up avenues for Eros for local content creation in China. Under the co-production treaty, a film designated as a co-production will not be considered a foreign film and therefore avoids any associated restrictions.
The collaboration with the Shanghai Film Group Corporation incorporates exploitation of intellectual property rights owned by each party in their respective markets, development, co-production and distribution of film projects for both India & China. The treaty paves the way for Eros to become the preferred Indian film partner in China.
The association with Fudan University includes the ability for Eros to license Fudan’s IP for remakes or co-productions in India. Fudan will also assist Eros in obtaining publishing licenses for the promotion and distribution of the films from the Eros library in China across various platforms including dubbing them or remaking them to suit local audience tastes.
Sunil Lulla, managing director, Eros International Media said, ''This is a very proud moment for us at Eros to be associated with the biggest and most-respected Chinese media companies. We are humbled by the gestures that make us the most preferred partner in the field of media and entertainment and we are committed to helping both countries expand their market and audience instantly to over 2.5 billion people. We are really excited about the possibilities and the potential and making films together is just the tip of the ice-berg as we hope to extend these partnerships across all platforms including online.''
Shares of the company gained Rs 8.9, or 2.17%, to trade at Rs 418.85. The total volume of shares traded was 4,333 at the BSE (9.42 a.m., Monday).
