Algorand
$0.8279 1.30%
ALGO · 2w

Xfinite and Eros Now Expand Partnership for Blockchain-based Content Engagement Program on Algorand

SINGAPORE, June 9, 2021 /PRNewswire/ -- Xfinite and Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by global entertainment company Eros STX Global Corporation (NYSE: ESGC), announced it has deepened its partnership with Xfinite's Mzaalo platform, a gamified video streaming service on track to have 10M users by year end. The partnership further establishes Eros Now's footprint in advertising video on-demand (AVOD), a still-developing segment of the India streaming market that has significant growth potential, while allowing Eros Now to continue building its core subscription video on-demand (SVOD) service. This partnership also adds to the 25 premium linear TV feeds and VOD platforms and plans to expand further to reach 200 content partners This agreement, given Xfinite's innovative business model, also puts ErosSTX in a leadership position regarding digital asset growth and the use of blockchain technology. Algorand will serve as the foundational blockchain infrastructure as Xfinite selected the scalable blockchain in order to accommodate its accelerating adoption.

Commenting on the announcement, Ali Hussein, CEO of Eros Now, says: "One of our strategic imperatives is to fully monetize the Eros Now platform.  A key aspect of our strategy is to expand into ad-supported streaming and this partnership with Mzaalo does just that. We have an opportunity to monetize the more than 224 million Eros Now registered users who are fans of our content offering but are also price conscious. Mzaalo joins our already-substantial ecosystem of Eros Now distribution partners, including Bharti Airtel, Vodafone Idea, BSNL, Tata Sky, Apple, Amazon and Roku – just to highlight a few. The Mzaalo agreement is purposefully structured to provide ErosSTX with an appropriate mix of fixed and guaranteed cash payments and variable revenue participation as Mzaalo scales. We are excited about the growth opportunity this new partnership represents."  

...
Continue on prnewswire.com
Recent news
ALGO +1.30% · youtu.be · 17h

Encode Club - Algorand Educate: Reach

On Monday 21st June, we were delighted to host the eighth event in our Algorand Educate series. A huge thank you to Jay from Reach for his great presentation...