DOUGLAS, Isle of Man & BURBANK, Calif.--(BUSINESS WIRE)--ErosSTX Global Corporation (NYSE:ESGC) (“Eros STX”), a global entertainment company, announced today that it has secured over $100 million in sales on five new films, a record achievement for the Company. This demonstrates the strength and vitality of the international film market and the continued demand for strong new projects. The new film sales are an exceptional result from last week’s Toronto International Film Festival (“TIFF”), and follow a hugely successful Cannes Virtual Market in June this year.
ErosSTX has a combined global footprint and reach across five continents and more than 150 countries as well as a flair for creating content that entertains hundreds of millions of people around the world with hits such as Bad Moms, Hustlers, and many more. This success has enabled the Company to create a vast distribution network driven by a seasoned and knowledgeable distribution team.
The Company’s ability to remain nimble and mitigate market uncertainties allows it to de-risk and monetize the film slate at a pre-sales stage. The Company’s strategy and executive experience not only demonstrates confidence in the current markets, but also indicates that the demand for all formats of high quality movie experiences remain high.
“We are now closing the books on the best-ever sales we have seen coming out of TIFF,” said John Friedberg, President of ErosSTX International. “This is significant for our company and our industry as it shows the strength of the international marketplace and the demand for high-quality content. This level of activity, especially against the backdrop of a global pandemic, confirms the long-term health of our international partners, our business and the direction in which we are heading.”
ErosSTX closed pre-sales on the following films at the TIFF:
- Guy Ritchie's Five Eyes, starring Jason Statham
- Copshop, an action-thriller directed by Joe Carnahan, starring Gerard Butler and Frank Grillo
- Devotion, director JD Dillard’s historical war epic starring Jonathan Majors and Glen Powell as elite US Navy fighter pilots, from Black Label Media
- Queenpins, a female-driven comedy that will reunite the studio with Bad Moms star Kristen Bell, and also starring Kirby Howell-Baptiste, Vince Vaughn and Paul Walter Hauser
- I Care a Lot, J Blakeson’s original thriller that premiered in the festival, starring Rosamund Pike, Peter Dinklage, Eiza Gonzalez, and Dianne Wiest from Black Bear Pictures
The Company anticipates further demand for content across the globe as ErosSTX continues to benefit from diversified revenue sources and consumers while we build a powerhouse between East and West. ErosSTX’s multi-channel distribution model and network will seek each opportunity to exploit the Company’s valuable content library, as well as the current and future slate with over $300 million of highly predictable aggregated future revenue.
ErosSTX Global Corporation:
Eros STX Global Corporation, (“ErosSTX” or “The Company”) (NYSE: ESGC) is a global entertainment company that acquires, co-produces and distributes films, digital content & music across multiple formats such as theatrical, television and OTT digital media streaming to consumers around the world. Eros International Plc changed its name to Eros STX Global Corporation pursuant to the July 2020 merger with STX Entertainment, merging two international media and entertainment groups. The combination of one of the largest Indian OTT players and premier studio with one of Hollywood’s fastest-growing independent media companies has created an entertainment powerhouse with a presence in over 150 countries. ErosSTX delivers star-driven premium feature film and episodic content across a multitude of platforms at the intersection of the world's most dynamic and fastest-growing global markets, including US, India, Middle East, Asia and China. The Company also owns the rapidly growing OTT platform Eros Now which has rights to over 12,000 films across Hindi and regional languages and had 205.8 million registered users and 33.8 million paying subscribers as of June 30th, 2020. For further information, please visit ErosSTX.com.
ErosSTX International, a division of Eros STX Global Corporation, is a full- service international film distribution and financing company with direct distribution of both Hollywood and Bollywood content in India, the UK, Ireland and the Middle East. Headquartered in London, the company has formalized an unrivaled network of key output deals with the major market leaders in 25 territories with a reach covering over 150 countries around the world. Embracing the unique opportunities in the international marketplace, the company recently closed an innovative and dynamic distribution output partnership with Amazon in the UK, France and Italy.
ErosSTX International’s successes include distributing both STXfilms’ productions and third-party acquisitions, working with filmmakers including Ridley Scott, Guy Ritchie and Michael Mann, as well as producing partners like Imperative/30West, Thunder Road, Black Label Media, Miramax, and Scott Free. In addition, ErosSTX International recently entered into an exclusive, multi-year international distribution output deal with leading independent production powerhouse, Black Bear Pictures. The ErosSTX International film slate includes: global box oﬃce hit Hustlers, the Bad Moms franchise, the upcoming Greenland starring Gerard Butler, Untitled (previously known as Prisoner 760) starring Jodie Foster, Tahar Rahim and Benedict Cumberbatch, Five Eyes directed by Guy Ritchie and starring Jason Statham, Devotion directed by JD Dillard and starring Glen Powell and Jonathan Majors, and Copshop directed by Joe Carnahan and starring Gerard Butler. ErosSTX International also secured select international rights to Spencer, directed by Pablo Larraín and starring Kristen Stewart.