Eros International (Eros Innovation)

Overview

Eros International is an Indian film entertainment company founded by the Lulla family in 1977. The company built one of the largest Indian film libraries in existence, with rights to over 12,000 titles spanning Hindi, Tamil, Telugu, and other regional language cinema. In 2022, the group launched Eros Innovation, a subsidiary that houses the Eros Now streaming platform, AI development operations, and the film library's digital and character rights. Eros Innovation has since pivoted the company toward what it calls "Cultural AI": artificial intelligence models trained specifically on Indian cinema content.

As of 2026, Eros Innovation reports 224 million registered users and 39.94 million paying subscribers on Eros Now. The platform offers over 12,000 digital titles in 9 languages. Eros Innovation secured a $150 million capital injection in November 2025 and positions itself as a $2 billion AI-media platform, with $42 million in revenue and $34 million in EBITDA reported for December 2025. The company is targeting more than $100 million in revenue by December 2026 with a 70% EBITDA margin.

In June 2026, Eros Innovation announced a 265 million pound ($355.2 million) commitment to UK film production over five years, anchored by a 15-production slate and the licensing of its $1.7 billion cultural dataset to a newly established UK operation. Two productions are confirmed to shoot in Britain in 2026: Nandi - War of Kailasa and Tanu Weds Manu - The Next Chapter.

The separately listed Indian entity, Eros International Media Limited (BSE/NSE), faces significant financial and regulatory challenges. For FY2026, it reported a standalone net loss of 10,186 lakh rupees on revenue of 2,846 lakh rupees. The company's auditors issued a qualified opinion on standalone results and a disclaimer on consolidated results, citing overdue receivables, regulatory scrutiny from SEBI, and material uncertainty about its ability to continue as a going concern.

History

Founding and Distribution Era (1977 to 2012)

The Lulla family founded Eros International in the UK in 1977, initially as a video distribution company serving the Indian diaspora in Britain. The company expanded into theatrical distribution of Bollywood films for South Asian audiences across the UK, US, Canada, and other markets. As Bollywood's global profile grew through the 1990s and 2000s, Eros transitioned from serving diaspora audiences to marketing Indian cinema to mainstream international audiences.

Eros produced and co-produced major Bollywood films including Bajrangi Bhaijaan (2015, starring Salman Khan), Dil Dhadakne Do (2015), Ki and Ka (2016), and Udta Punjab (2016). The company's production arm complemented its distribution strength, allowing Eros to control the commercial chain from financing through theatrical and digital distribution.

Streaming and STX Merger (2012 to 2021)

Eros Now, launched in 2012, was one of the first dedicated Indian entertainment streaming platforms. It built a subscriber base among the global Indian diaspora and domestic Indian audiences as smartphone penetration accelerated. The platform now offers content in 16 languages across 150+ countries.

In 2021, Eros merged with STX Entertainment to form Eros STX Global Corporation, combining Eros's Indian content library and distribution infrastructure with STX's Hollywood production operations. This merger was later unwound as the company refocused on its AI strategy.

AI Transformation (2022 to Present)

In 2022, Kishore Lulla established Eros Innovation as a new company within the group, housing AI development and the Eros Now streaming platform. Working with IIT Madras, Eros Innovation began building a "sovereign cultural" AI model using the group's library of more than 10,000 movies as training data. The resulting Eros Large Cultural Model (LCM) family is trained on approximately 1.5 trillion rights-cleared tokens drawn from 11,000 films and 100,000 characters, independently valued at $1.7 billion by OxValue.AI, a University of Oxford spin-out.

The AI platform was unveiled at the IndiaAI Impact Summit in New Delhi in February 2026. The voice layer, Eros LCVM, launched on June 5, 2026, released by S. Krishnan, Secretary of India's Ministry of Electronics and Information Technology (MeitY). ErosADI, the company's first AI model, launched in May 2026.

Notable Productions

Eros produced and co-produced major Bollywood films distributed globally:

House Style / Genre Focus

Eros built its identity on Bollywood and Indian regional cinema across Hindi, Tamil, Telugu, and other languages. The company's catalog spans commercial masala films, romantic comedies, social dramas, and action entertainers designed for both domestic Indian and global diaspora audiences.

Eros does not focus on Hollywood-style franchise blockbusters, English-language independent cinema, or arthouse festival films without commercial appeal. The company's AI pivot under Eros Innovation has shifted focus toward technology-driven content creation, though Eros Studios continues producing Indian-language films.

How They Typically Find Talent / Take Submissions

Eros Studios continues to produce and co-produce Indian-language films. The company does not accept unsolicited submissions. Projects reach Eros through:

1. Established producer relationships: Indian production houses with prior Eros collaborations bring projects forward
2. Talent agency representation: Major Bollywood agencies route scripts through Eros Studios' development team
3. UK co-production inquiries: Eros Innovation's UK operation accepts partnership and co-production inquiries for the 265 million pound UK commitment via erosinnovation.com
4. Technology partnerships: Eros Innovation actively seeks partnerships with British academic institutions and technology companies for cultural AI applications

Filmmakers should distinguish between Eros Innovation (AI and streaming, reported positive cash flow) and Eros International Media Limited (Indian listed entity, facing financial difficulties).

Current Operations

Eros Innovation

Eros Innovation operates as the group's primary growth vehicle, with three stated verticals:

1. Creator economy: AI tools combined with intellectual property to enable content creation and monetisation
2. Healthcare: preventive healthcare AI through initiatives including a primary healthcare centre model in Gandhinagar
3. Education: AI Vidya degree programmes in partnership with Indian universities

The company reports over $1 billion in assets, zero external debt, and positive free cash flow. Its film and content operations continue through Eros Studios, which produces film and streaming content using both AI and conventional filmmaking methods.

UK Production Slate (2026)

At London Tech Week in June 2026, Eros Innovation announced three creative programmes comprising 15 productions, backed by a 265 million pound commitment to the UK:

Eros Brahmand (mythological cinematic universe, 9 productions): Nandi - War of Kailasa, Dwaarka: Gateway to the Universe, Vimaan Wars, Mahabharat 5000 A.D., Yakshinis, Brahmarakshak, Garuda, Kumbhayanna, and Mansa Devi. Each is developed through a dedicated UK film production company.

Eros Universe (6 Indian film continuations): Tanu Weds Manu - The Next Chapter (directed by Mitakshara Kumar, co-produced with Rudrak Soma Jyoti Limited), Phobia, English Vinglish, Desi Boyz, Rangeela, and Tere Naam. Each expands into full franchise ecosystems spanning film, microdrama, animation, and character-led content.

Eros Remastered: AI-driven reimagining of catalogue titles, including an AI remaster of Kochadaiiyaan (the first Indian motion capture film, starring Rajinikanth), with Soundarya Rajinikanth returning to direct.

The 265 million pound commitment covers AI music studios in London, dedicated microdrama production, London-based animation, UK-based model training and R&D, and British academic partnerships.

Eros International Media Limited (Indian Listed Entity)

Eros International Media Limited, the BSE/NSE-listed Indian entity, reported the following financial results for FY2026 (year ended March 31, 2026):

• Standalone net loss: 10,186 lakh rupees (approximately $1.2 million)
• Revenue from operations: 2,846 lakh rupees (up from 508 lakh rupees in FY2025)
• Net worth entirely eroded on a standalone basis
• Current liabilities exceed current assets

The statutory auditor (Haribhakti and Co. LLP) issued a qualified opinion on standalone results and a disclaimer on consolidated results, citing long-overdue trade receivables from group entities (aggregate net debit balance of 28,438 lakh rupees), content advances under SEBI scrutiny (aggregating 101,601 lakh rupees), and ongoing regulatory investigations. SEBI issued an interim ex-parte order in June 2023 and a confirmatory order in October 2023. The Enforcement Directorate conducted a search at the company's registered office in February 2025 under FEMA. The company stated it continues to cooperate with authorities.

What Filmmakers Should Know

For Indian-Language Content Producers

Eros Studios continues to produce and co-produce Indian-language films. The company's distribution network covers domestic Indian theatrical release and the global Indian diaspora audience across the UK, US, Middle East, and Southeast Asia. However, the financial difficulties of the Indian listed entity mean that filmmakers should conduct due diligence before entering into financing or distribution arrangements with Eros International Media Limited specifically. Eros Innovation, the AI and streaming entity, is a separate corporate structure with reported positive cash flow.

For UK-Based Productions

The 265 million pound UK commitment creates new opportunities for British-based producers, crew, and facilities. Every production in the Eros Brahmand and Eros Universe slates is developed through a dedicated UK film production company. Two productions are confirmed to shoot in Britain in 2026. The commitment also includes AI music studios, animation, and R&D in the UK. UK-based producers and facility operators should contact Eros Innovation's UK operation for partnership and co-production enquiries.

For AI and Technology Partners

Eros Innovation is actively seeking partnerships with British academic institutions, technology companies, and data providers. The company's cultural dataset, valued at $1.7 billion, is being licensed to its UK operation. The company has stated it is exploring a "Global Cultural Exchange" framework for interoperability between cultural AI systems. Technology companies interested in cultural AI applications should approach Eros Innovation directly via erosinnovation.com.

Watch: Trailers & Behind the Scenes

See Also

For understanding how Indian cinema reaches global audiences, see Distribution Deals Explained. To model revenue across Indian and international markets, use the Revenue Forecast Calculator. For budgeting productions in this studio's typical range, use the Budget Breakdown.