The Nigerian film industry has mostly been focused on the domestic market, but this might change with Netflix investing in Nollywood. Shortly after purchasing its first original Nigerian film “Lionheart“, the world’s biggest streaming company Netflix is going to invest more in the industry which over the years has suffered piracy and have always settled for small screen productions that are often sold on the streets. These low-cost models, however, are simple and somehow have boosted the growth of the industry in many remarkable ways. With Netflix investing in Nollywood, the Nigerian movie industry is ready to take the next big step forward.
Nollywood producers have managed to get their movies across to the world in the past via iROKOtv, a paid TV service that provides streaming service and have been around since 2010. It is one of the first mainstream online movie streaming websites that provide on-demand service to Africans. iROKOtv has been successful in this service, having transmitted Nollywood content into international broadcasting channels. The availability of internet service and this streaming service, as well as a few others, suggestively increased access to Nollywood contents.
Netflix has in the past licensed Nollywood movies which had already been screened in the local cinemas, however, they are now aiming at original content. This is a win-win situation for both Netflix and Nollywood. With Netflix investing in Nollywood, we believe the financial challenges of the industry will be mitigated and hopefully, piracy will be checked. Access and distribution of Nollywood contents will be streamlined and quality will also be improved.
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