Is there a way to make money in Nollywood? This CNBC Africa Entrepreneurial Edge segment attempts to answer this question, but I was distracted by the slew of misinformation; the most glaring of which is the claim that “not a single Nollywood movie has been recognized internationally“. This statement is refuted by the global acclaim of such films as Kunle Afolayan‘s The Figurine (screened at FESPACO and festivals in London, New York, Tokyo and Rotterdam) and Mak Kusare‘s Champions of Our Time (winner of the Special Jury Prize for Best Television/Video Award at FESPACO).
Most of the segment depicts Nollywood as “the Other“, fetishizing the so-called guerrilla filmmaking techniques of Kingsley Okereke as it follows his low-budget production powered by “one camera and just one boom microphone“.
It is all tired material until the viewer encounters Jason Njoku, CEO of Iroko Partners and creator of the NollywoodLove YouTube channel. His answer to the problem of piracy and distribution is the internet. Njoku has purchased more than 400 audio/video on-demand licenses to stream Nollywood films online for free. His revenue stream comes from an advertising deal with YouTube, thus making content accessible to viewers while putting money back into the hands of the filmmakers. At last count, NollywoodLove has 24,525 subscribers, 1,303,678 channel views and 32,530,182 upload views.
Full disclosure: The author contributed to the “tired material”. Watch around the 1:05 mark.