Eros International Plc and EMI Music Publishing enter into publishing partnership
Mumbai, 18th Feb 2010: Eros Music Publishing, part of Eros International, and EMI Music Publishing, the world's leading publisher of popular music, have agreed a strategic partnership to create new opportunities for the companies' songwriters. Under a new exclusive set of sub-publishing deals, EMI Music Publishing will represent Eros' catalogue of Bollywood and South Asian composers on a worldwide basis (excluding India), while Eros will represent EMI Music Publishing's extensive catalogue of 1.3 million songs in India.
The pioneering synergy between the companies will allow both parties to maximize distribution opportunities for their songs and songwriters, and extend their reach into new markets by tapping into each other's distribution networks.
The companies first worked together last year in South America, to secure a synch license for "Beedi" (written by Vishal Bhardwaj and Gulzar) as the title theme for "Caminho Das Indias," a telenovela which attracted up to 60% audience shares when it was aired last year in Brazil.
EMI Music Publishing Chief Operating Officer Leo Corbett said: "EMI Music Publishing is honoured to be representing the Eros catalogue, which features some of the best Bollywood music around. This is an exciting time in the development and growth of South Asian music, and we are thrilled to be part of it through a global player in the Indian entertainment and media sector like Eros. As an integrated Indian film and media company the ongoing film release schedule ensures a strong flow of new songs, and we're looking forward to introducing their catalogue to a much wider audience. Working with them will also allow us to create new opportunities for our own catalogue in the growing market for non-local music in India, and provide our writers with valuable new revenue opportunities. ."
Andrew Heffernan, Executive Director Eros Music Publishing, said "Apart from the terrific administration resources at EMI, an extremely important part of this relationship is the emphasis on working closely to develop new markets for our songwriters, new licensing opportunities for our songs and the creative exploitation of our copyrights. Local music currently dominates the Indian market but changes in consumption and new technologies mean that the opportunity for EMI's catalogue in India is growing. With our local presence we hope to develop new monetisation models as well as expand the creative exploitation."
EMI Music Publishing's catalogue includes more than 1.3 million copyrights including some of the best known songs ever written. Included in the EMI Music Publishing catalogue are iconic songs including "New York New York", "You've Got A Friend", "The James Bond Theme", "Lady Marmalade", "Ain't No Mountain High Enough", "Always On My Mind", "Over The Rainbow", "I Heard It Through The Grapevine" and "Singin' In the Rain". Its current hit-making writers and producers include Arctic Monkeys, Beyoncé, James Blunt, Duffy, Fergie, Jay-Z, Norah Jones, Alicia Keys, Pink, Kanye West, Pharrell Williams and Amy Winehouse.
Parallel to that and industry leaders within the field of South Asian music production and distribution,
Eros Music Publishing's catalogue features music from popular Bollywood, Hindi, Tamil, Marathi and Punjabi films. Eros Music Publishing is part of the Eros International group, an integrated player in the rapidly growing Indian media and entertainment sector, involved in the acquisition and distribution of filmed entertainment content across current and emerging formats including theatres, home entertainment, television and new media.
Eros has over three decades of market experience in creating a global platform for Indian cinema. In 2006, Eros became the first Indian media company to obtain a listing on the AIM Market of the London Stock Exchange. Eros operates globally with offices in India, the United Kingdom, USA, UAE, Singapore, Australia, Fiji and the Isle of Man.
Eros International Media Limited proposes, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a Draft Red Herring Prospectus ("DRHP") with the Securities and Exchange Board of India ("SEBI"). The DRHP is available on the SEBI website at www.sebi.gov.in <http://www.sebi.gov.in/> as well as on the websites of the book running lead managers at www.enam.com <http://www.enam.com/> , www.kmcc.co.in <http://www.kmcc.co.in/> , www.morganstanley.com/indiaofferdocuments/ <http://www.morganstanley.com/indiaofferdocuments/> and www.abnamro.co.in <http://www.abnamro.co.in/> . Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section titled "Risk Factors" of the DRHP.