Markets

Why Eros Stock Jumped Monday

What happened

Shares of Eros International (NYSE: EROS) jumped on Monday. The stock was up about 8% as of 11:46 a.m. EST.

The stock's gain followed news that the South Asian over-the-top entertainment platform is collaborating with Alphabet's YouTube Music in India in a promotion to get more users to sign up for its Eros Now streaming TV service.

A chart showing a stock price moving higher.

Image source: Getty Images.

So what

As part of the collaboration, an Eros Now subscription will be offered to new YouTube Music premium and Google Play Music subscribers in India for 99 Indian rupees, giving users access to Eros Now for 90 days. After this 90-day period, customers will be billed normal monthly subscription rates for the two services.

"Amongst several initiatives we deeply invested in growing the base of paid digital subscriptions in India and this strategic alliance with YouTube and Google is another example to ensure we are able to move the needle for the growth of this business in India, while providing for a super value to our consumers," said Eros CEO Rishika Lulla Singh in a press release about the collaboration.

Now what

This collaboration should help Eros continue its rapid growth in Eros Now subscribers. In Eros' fiscal second-quarter update before market open last Friday, the company said its Eros Now subscribers increased 81% year over year to 23.5 million.

10 stocks we like better than Eros International
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has quadrupled the market.*

David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Eros International wasn't one of them! That's right -- they think these 10 stocks are even better buys.

See the 10 stocks

 

*Stock Advisor returns as of June 1, 2019

 

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Daniel Sparks has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Alphabet (A shares) and Alphabet (C shares). The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

GOOGL GOOG

Latest Markets Videos

    The Motley Fool

    Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

    Learn More