| Log in

Eros acquires UK’s PingTune for music messaging play

15 October, 2015

Indian movie production house Eros International Plc has acquired UK-based music messaging app PingTune for an undisclosed amount.

“The PingTune acquisition extends our… music offering and is an excellent addition to the ErosNow platform, adding features and functionality that provide our users with a differentiated music experience,” Rishika Lulla Singh, CEO of Eros Digital, said in a statement.

Eros Digital is a subsidiary of the US-listed Eros International and owns ErosNow, an online streaming platform for movies, TV shows, music and music videos.

PingTune, run by Tune It Digital Ltd, facilitates social connections between music, artists and their fans. It allows fans to discover, share and listen to music through the app. It also enables artists to create official profiles so that they can deliver content directly to fans.

“Eros’ massive audience and existing relationships with artists will allow PingTune to achieve tremendous scale and visibility worldwide,” said Henry David Firth, founder and CEO of PingTune.

Founded in 1977, Mumbai-based Eros produces, acquires and distributes Indian language films in multiple formats worldwide. The firm has aggregated rights to more than 2,300 films in its library. It also holds digital-only rights for 700 additional films. Eros International is the first Indian media company to list on the New York Stock Exchange.

Last year, Eros International’s Mumbai-listed subsidiary, Eros International Media Ltd, had acquired Chennai-based mobile VAS provider Universal Power Systems Pvt Ltd, which operates under the banner of Techzone, in an all-stock deal.

In the music streaming segment, handset maker Micromax Informatics Ltd said on Wednesday that it has invested an undisclosed amount in Times Internet’s music streaming app Gaana. In July, Saavn raised $100 million in Series C funding from existing investor Tiger Global Management and others.


Leave Your Comment
Eros International acquiring controlling stake in mobile VAS firm Techzone

Eros International acquiring controlling stake in mobile VAS firm Techzone

Sainul K Abudheen 4 years ago
Mumbai-based film studio Eros International Media Pvt Ltd is picking a...
Eros To Buy Out Remaining 76% In B4U For $53.1M

Eros To Buy Out Remaining 76% In B4U For $53.1M

Nandana Das 6 years ago
Bollywood films producer and distributor Eros International Plc is acquiring the...
Eros to buy mobile VAS venture TechZone through all-stock deal

Eros to buy mobile VAS venture TechZone through all-stock deal

Anuradha Verma 3 years ago
Mumbai-based film studio and digital entertainment firm Eros International Media...
No Comments

Eros acquires UK’s PingTune for music messaging play

Powered by WordPress.com VIP