WEBVTT - Businessweek Extra Extra - Kishore Lulla

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<v Speaker 1>This is Bloomberg Business Week from Bloomberg Radio. I'm Jason

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<v Speaker 1>Kelly and I'm Carol Masser. Welcome to the Bloomberg Business

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<v Speaker 1>Week Extra. It's our weekly podcast bringing you an in

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<v Speaker 1>depth interview you will not hear anywhere else. And this

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<v Speaker 1>week we'll bring you an extra extra because we just

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<v Speaker 1>loved this conversation with Keyshore Lula. He's an old friend

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<v Speaker 1>of mine, is the chairman of Aos International. They're the

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<v Speaker 1>Baliwood Netflix in many ways. They just did a deal

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<v Speaker 1>with a Hollywood studio called STX. We talked a lot

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<v Speaker 1>about the media landscape, but we also spent a minute

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<v Speaker 1>talking about the state of the world. And I gotta

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<v Speaker 1>tell you this will change. In Keyshore's words, your vibrations. Yeah,

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<v Speaker 1>it's all about raising the vibrational level and really just

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<v Speaker 1>taking in what's going on around the world and how

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<v Speaker 1>do you create those conversations that make a difference. I

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<v Speaker 1>have to say his conversation stayed with me big time.

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<v Speaker 1>Before we get to to the world of entertainment, I

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<v Speaker 1>do want to ask you sort of about your view

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<v Speaker 1>of the world. You spend a lot of time sort

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<v Speaker 1>of moving around, you know, obviously in India, but time

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<v Speaker 1>in London, time in California, and I wonder, you know,

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<v Speaker 1>this moment where we are, uh, you know, June eight.

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<v Speaker 1>I'm not sure anybody anticipated that was going to to

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<v Speaker 1>look like this. What do you make of it? What

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<v Speaker 1>does the world feel like to you right now? See? Um,

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<v Speaker 1>you know, manager, I always think there's a silver lining

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<v Speaker 1>and everything, So there could be some silver lining coming

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<v Speaker 1>out of this COVID nineteen. Everybody's blaming, but you know,

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<v Speaker 1>from my entertainment point of view, I think the way

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<v Speaker 1>I'm looking at it, say, suppose the company we have

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<v Speaker 1>fifty percent traffic comes from the studio model, comes from

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<v Speaker 1>the ot D model because of the COVID of course,

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<v Speaker 1>you know, because of the theaters closing down and people

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<v Speaker 1>are unlod ob theaters, but that is getting compensated from

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<v Speaker 1>our ot D platform. So what we have seen in

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<v Speaker 1>the last three months, the engagement has grown up by

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<v Speaker 1>on our traffic, whether it's iOS or Android or that traffic.

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<v Speaker 1>And also the engagement levels by the consumer, which goes

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<v Speaker 1>around spending about seventy minutes per day, has gone to

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<v Speaker 1>about fourteen minutes. So that's a lot of you know,

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<v Speaker 1>rise in that and that's the silver lining for us.

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<v Speaker 1>So I'm not sure whether this is the last, uh,

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<v Speaker 1>you know, when the theater comes back. So I suppose

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<v Speaker 1>if you go back hundred years, so let's assume when

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<v Speaker 1>there were only theaters, when then the black and white

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<v Speaker 1>television came in, Then the color television came in, and

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<v Speaker 1>then you had VHS, DVD, everything came in, and everybody

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<v Speaker 1>was talking about, oh no, that format will disappear. In fact,

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<v Speaker 1>what we have seen the industry growing worldwide and the

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<v Speaker 1>new formats kept on coming. But the consumer had the

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<v Speaker 1>choice to watch the content in the way they wanted,

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<v Speaker 1>and the pie grew. So I think, you know, whatever

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<v Speaker 1>has happened in the last three to four months, of course,

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<v Speaker 1>I think the governments have decided that when to end

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<v Speaker 1>the lockdown and when the people can go back to

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<v Speaker 1>the theaters. People are resilient, people want to go back

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<v Speaker 1>to the normal life. I think with whether the vaccine

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<v Speaker 1>or some other self distancing rules, you would see the

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<v Speaker 1>normalcy and the life of the theaters people coming back.

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<v Speaker 1>But in the meanwhile, the studios and the content makers

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<v Speaker 1>are a bit worried, saying that until the theaters does open.

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<v Speaker 1>So therefore, you've secene whether in Hollywood or in Bollywood.

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<v Speaker 1>The Hollywood have seen the movie state of we're going

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<v Speaker 1>to streaming platforms, whether it is by Peacock or whether

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<v Speaker 1>it's by Netflix, or whether Prime or whether Apple. You've

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<v Speaker 1>seen a big movie by Apple, you know, the Tom

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<v Speaker 1>Hanks movie directly going to Apple platforms. So in that way,

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<v Speaker 1>the content owners are going to make money. Of course,

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<v Speaker 1>I think the Bible will grow h it's just adapting

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<v Speaker 1>to the new norms uh and the new ways of

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<v Speaker 1>watching content. And also if you look at the next

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<v Speaker 1>three to five years, the way we're going to consume

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<v Speaker 1>content with the world which is coming in the VR,

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<v Speaker 1>MR A R, of course, the consumption of the consumer

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<v Speaker 1>will have a different way of consuming the content, and

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<v Speaker 1>I think the pipe for the content owners will go

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<v Speaker 1>only so key sure, I guess you know, what do

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<v Speaker 1>you think dramatically changes in our world because of what

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<v Speaker 1>we've all been experienced by the virus? You know, you've

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<v Speaker 1>talked a little bit about, you know, streaming versus kind

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<v Speaker 1>of the more traditional forms of distribution. Is there anything

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<v Speaker 1>that really sticks longer term? I see? I think still

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<v Speaker 1>for the big great movies, the theaters will be the

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<v Speaker 1>place to watch. But you will see that for the

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<v Speaker 1>next three to six months will be difficult for theaters.

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<v Speaker 1>Until the people come back and until people feel secure

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<v Speaker 1>and on self distancing, you will see a lot of

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<v Speaker 1>releases coming on OTT definitely striving business. You have seen

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<v Speaker 1>that all the odd businesses outsiding under the circumstances and

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<v Speaker 1>also the consolidation which is happening. You saw a d

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<v Speaker 1>n D acquiring Wanna and then you know measure of

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<v Speaker 1>Disney and Fox, and then you know Netflix, you know

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<v Speaker 1>where it has gone in the subscription level and Apple

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<v Speaker 1>getting into the free And that's what we were thinking

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<v Speaker 1>that how do we see as EROS. We were thinking

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<v Speaker 1>that we have two businesses, as I said, Eros Studio

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<v Speaker 1>and Eros now the ot D business. The OTT business

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<v Speaker 1>is driving in a big way, and Eros Theatrical is

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<v Speaker 1>taking a hit definitely, but that is getting compensated by

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<v Speaker 1>the digital business. So when we did merge with st X,

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<v Speaker 1>the Hollywood Studio, that's was the thinking. You'll see the

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<v Speaker 1>premium content UH is getting more costlier and costlier because

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<v Speaker 1>the consumer wants to watch the content Beat theater, b TV,

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<v Speaker 1>Beat Bay Television or BEAT pay per view or beat

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<v Speaker 1>ot T o t T has just become the easier

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<v Speaker 1>method because of the bench watch and they can you know,

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<v Speaker 1>engage with the shows or the movies whenever they want.

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<v Speaker 1>They don't have to make an appointment with the television

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<v Speaker 1>or they don't have to make the appointment to go

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<v Speaker 1>and watch the movie in the theater. And that's the

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<v Speaker 1>reason we have seen the consumption on the OTIT going out.

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<v Speaker 1>What will drive the future in the business, as I said,

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<v Speaker 1>the new new formats and also now the language language

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<v Speaker 1>because of this new OTIT platforms. You've seen Spanish shows,

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<v Speaker 1>You've seen different languages on Prime Video, on Netflix that

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<v Speaker 1>are getting really a lot of attraction. So hence the

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<v Speaker 1>language will not be a barrier. So if the content

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<v Speaker 1>will have no language, it can come from India, it

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<v Speaker 1>can come You saw Parasite, a movie from Korea getting

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<v Speaker 1>the Oscars this time in the main stream, and that's

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<v Speaker 1>what is getting transformed. The ot T is taking out

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<v Speaker 1>the barriers and for the world to come under one

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<v Speaker 1>unified world to watch content. And that's what is going

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<v Speaker 1>to happen. I think in the future you will see

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<v Speaker 1>a lot of interactive content being made. You will see

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<v Speaker 1>in the next coming one or two years, immersive content

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<v Speaker 1>being made that you will getting immersed into the content,

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<v Speaker 1>and that's possible because of the technology and not saying

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<v Speaker 1>the theaters will go away. The theaters will go exist,

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<v Speaker 1>but the pie will increase. So I think as see,

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<v Speaker 1>you know when we had DVD. When DVD disappeared, people thought, oh,

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<v Speaker 1>you know the studios which are making so much money

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<v Speaker 1>from DVD, where the money will come from. In fact,

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<v Speaker 1>the pipe grow more than DVD revenue, which came because

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<v Speaker 1>of the odd platform or the digital so similar kind

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<v Speaker 1>of you know, the biggest I think if you look

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<v Speaker 1>at in the last fifty years, the biggest thing which

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<v Speaker 1>happened first was the Internet in eighties, then it was

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<v Speaker 1>the smartphone in late two thousand and I think the

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<v Speaker 1>biggest innovation of all, bigger than the Internet and bigger

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<v Speaker 1>than the smartphones, will be the A R V R

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<v Speaker 1>M R going forward, and that's going to give us

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<v Speaker 1>more revenues. But ultimately what will happen it's the premium content.

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<v Speaker 1>Is the content getting reformatted into different formats and the

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<v Speaker 1>consumer chooses. You see, you cannot stop consumer to choose

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<v Speaker 1>what they want to watch and when they want to watch,

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<v Speaker 1>because they want to be in control, and the content

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<v Speaker 1>owners think that they can be in control and they

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<v Speaker 1>can h you know, force consumer to watch it through

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<v Speaker 1>the medium. I think that fund happened so the belt

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<v Speaker 1>picture to get the best conton out and let the

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<v Speaker 1>consumer decide what they want to watch and when they

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<v Speaker 1>want to watch and through which medium. Right, all right,

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<v Speaker 1>So I have to ask you. You and I sat

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<v Speaker 1>together in acron Ohio a few years back, and I

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<v Speaker 1>was really impressed by not just your view of the

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<v Speaker 1>content world, in the entertainment world, but sort of your

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<v Speaker 1>view of life candidly, um and you talked a lot

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<v Speaker 1>about sort of what it takes to be a good person,

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<v Speaker 1>what it takes to sort of put the right vibe

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<v Speaker 1>out in the world. And I've thought about that a

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<v Speaker 1>lot in this sort of world that we're living in

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<v Speaker 1>right now, and you know, all this despair and all

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<v Speaker 1>this anger and protests, and I wonder what what you

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<v Speaker 1>make of it from that perspective right now. See, it's

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<v Speaker 1>very important as a global community to help that all

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<v Speaker 1>over by the sansistors of every color. You know, That's

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<v Speaker 1>what I believe in. And the other thing, you see,

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<v Speaker 1>I believe that you know, you It's all about the

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<v Speaker 1>vibrations and the thoughts. You know, you get about six

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<v Speaker 1>thoughts today and what do what the talks? You think?

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<v Speaker 1>If you think negatively, you see that comes back to

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<v Speaker 1>you then X. So my message is clear that you know,

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<v Speaker 1>be careful on every thought which is being emitted out

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<v Speaker 1>of you because whatever you're thinking, if it is not positive,

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<v Speaker 1>it will come back to you at an X. So

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<v Speaker 1>please accept the responsibility when that comes back to you.

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<v Speaker 1>So therefore, be responsible and think always positive and at

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<v Speaker 1>a higher vibration so that you know you make the

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<v Speaker 1>life good for you, but also for the community living there,

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<v Speaker 1>you know, and I think if everybody can raise the

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<v Speaker 1>thought level and the vibrational level, the whole community will

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<v Speaker 1>be so good place to live and peace. So you know,

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<v Speaker 1>eminate peace, emanate positivity and I bet you that will

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<v Speaker 1>come back to you. So don't emanate anger. You know

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<v Speaker 1>when you emmanate anger, that comes back to you only.

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<v Speaker 1>So just emanate positivity. And that's Keyshorta, chairman founder of

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<v Speaker 1>Aerros International, again the netflix of Bali Wood doing a

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<v Speaker 1>big deal to expand their global empire. But also a

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<v Speaker 1>very thoughtful guy. You know, someone who i've learned a

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<v Speaker 1>lot from over the years just in terms of how

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<v Speaker 1>he views world. And even after this interview, who is

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<v Speaker 1>sending me emails with articles and little quotes here and there.

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<v Speaker 1>It really does sort of change your mindset. So grateful

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<v Speaker 1>to him for spending some time. And I'm just gonna say,

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<v Speaker 1>I'm making t shirts that say raise the vibrational level.

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<v Speaker 1>I'm going to do it all right, you've been listening

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<v Speaker 1>to Bloomberg Business Week Extra, be sure to tune into

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<v Speaker 1>Bloomberg Business Week Radio Live Money through Friday at two

0:10:18.640 --> 0:10:21.640
<v Speaker 1>pm Wall Street Time on Bloomberg Radio. I'm Jason Kelly

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<v Speaker 1>and I'm Carol Masser, and this is Bloomberg