While the global audiences are looking forward to Nollywood, the Nigerian movie industry, overtaking the Indian movie industry after surpassing America’s Hollywood in production, the quantity of movies produced annually by Nollywood has declined heavily in recent times…
 
More details through:
https://businessday.ng/exclusives/article/nigeria-declines-in-volume-of-movie-production-soars-in-quality/
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A partnership announced today by Google and the Nigerian Tourism Development Corporation seeks to help the Nigerian tourism sector recover and grow in the wake of the COVID-19 pandemic.
 
Google and the NTDC are partnering to provide training for small businesses, digital skills initiatives for individuals and the launch of a new Google Arts & Culture collection called ‘Tour Nigeria’.
 
Google Arts & Culture has worked with the NTDC over a number of months to create an online exhibition of imagery, stories and commentary highlighting some of Nigeria’s beautiful, hidden gems – from the Awhum Caves of Enugu, to the Farin Ruwa falls of Nasarawa, the Osun Osogbo sacred grove of Osun state, and the Wikki Warm spring of Bauchi state. The project also features stories and photos from some of the most colourful cultural festivals in the country including the Yauri Rigata Festival, and the Kano Durbar Festival…
 
More details through:
https://thenationonlineng.net/google-and-nigerian-tourism-development-corporation-partner-to-support-tourism-industry/
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Netflix Inc. became the world’s largest subscription-streaming service by flooding the market with popular content that’s cheaper than the competition.
 
Yet five years after it arrived in Africa, the U.S. company is struggling to grow beyond the wealthiest segment of the population, held back by poverty, piracy and limited access to broadband. In a continent of more than a billion people, the service has 1.4 million subscribers, according to Digital TV Research. That compares with almost 20 million customers signed up to African pay-TV company MultiChoice Group Ltd.
 
An important battleground is Nigeria, sub-Saharan Africa’s biggest economy and the heart of its TV industry. The rapid expansion of 4G mobile networks gives streaming services a new channel to reach audiences -- as long as they’re able to pay…
 
More details through:
https://www.bloomberg.com/news/articles/2020-09-29/netflix-bets-on-mobile-content-blitz-to-strengthen-africa-grip
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The ongoing edition of hit reality television show, Big Brother Naija (BBN), which kicked off on Sunday, will bring an estimated $5.2 million (N2 billion) into the Nigerian economy, financial sector sources have disclosed.
 
MultiChoice, producers of the show, explained sources, have had to ensure that the show, holding in the middle of the COVID-19 pandemic, is held under much stricter measures in conformity with the public health and safety protocols. According to financial sector sources, MultiChoice’s investments in the show have risen to N2 billion because of capital intensive projects necessary for the successful hosting of the show…
 
More details through:
https://www.vanguardngr.com/2020/07/bbn-2020-brings-n2bn-into-nigerian-economy-%e2%80%95-experts/

Following the Federal Government’s handing over of the National Theatre, Iganmu, Lagos, to the Central Bank of Nigeria (CBN) for creative initiatives capable of generating over $20 billion for the Federal Government, Governor Babajide Sanwo-Olu, has promised to help transform the facility to an international asset the citizens can be proud of.
 
According to Sanwo-Olu, there is no way the nation can join the league of the 21st-century economies if it cannot develop its creative industry. "It is about bringing better infrastructure. The creative industry will change the future of Nigeria. It will be a shame to us if we don't do what we are doing today. Any idea without finance will remain just an idea," he said.
 
He added that in the next 22 months, “we will be bringing Mr. President here to witness the commission of the transformed National Theatre. It will bring about the regeneration of the entire neighborhood. The areas will witness a new lease on life. We will turn this place to an international asset”, he added…
 
More details through:
https://www.sunnewsonline.com/fg-to-earn-20bn-yearly-from-creative-industry-emefiele/
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The initiative by leading the streaming entertainment service provider, Netflix, is set to boost employment in Nigeria with regard to the creative industry.

The entertainment service provider, which recently incorporated Nigerian Mo Abudu’s EbonyLife TV series into its portfolio, expressed commitment to partner with talented Nigerian practitioners in the creative industry to showcase their stories on the global stage.

A report during the week indicated that Ben Amadasun, Netflix’s Director of Content Acquisition and Co-Productions in Africa, expressed this commitment during a webinar in Abuja. According to him, the Nigerian movie industry (Nollywood) has been at the epicenter of the African entertainment industry, creating stars and producing content that has resonated with fans across the continent.

In his words: “This year, Netflix joins hands with some of Nigeria’s most talented creatives to bring their unique stories to the world, and with this newfound access to the global stage, their powerful stories will now enjoy a worldwide audience…
 
More details through:
https://www.newtelegraphng.com/creative-sector-netflixs-hunt-to-boost-employment-in-nigeria/

The largest water park in West Africa, Park Vega, is set to launch in the country.
 
Park Vega is a member of International Association of Amusements & Attractions( IAAPA) and WWA World Waterparks Association (WWA), and it is acclaimed to be the first international standard water park in Nigeria and West Africa.
 
Expert’s ratings show that the park boasts internationally recognised features and standard facilities of a water park that ranks it matchless. These include: multiple water slides for adults and children, wave pools and splash pad, amongst others…
 
More details through:
https://www.thisdaylive.com/index.php/2020/04/11/west-africas-largest-water-park-set-to-launch-in-nigeria/

FilmOne Entertainment, an independent distributor of filmed entertainment with emphasis on Nigeria territory, has launched the first-ever international capital fund created specially for investment in Nigerian films. Core investors in the $1 million fund are Huahua Media, and Empire Entertainment (South Africa).
 
While Huahua Media is a Chinese company known for investing in Godzilla: King of the Monsters, Transformers: The Last Knight and Star Trek Beyond, as well as AY’s next movie, 30 Days in China, Empire Entertainment is a leading African distributor representing major Hollywood studios and a host of leading independent studios and producers. Both companies will assist in identifying the films with the most potential for theatrical release and box office success in global market…
 
More details through:
https://businessday.ng/news/article/filmone-announces-1-million-fund-for-production-of-nollywood-films/
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Though advertising expenditure dropped in the Above-the-Line (ATL) segment of the media last year to $225 million (N81 billion), as against previous year’s spending of N88 billion, advertising budgets remain focused on television and newspapers, as outdoor and radio advertising volume drops.
 
Contrary to trends in the U.S. or Europe, where the lion’s share of ad budgets is focused on internet and TV marketing, media observers had projected that between 2018 and 2020 the majority of advertising dollars in Nigeria will be devoted to TV and video promotion…
 
More details through:
https://guardian.ng/business-services/telcos-banks-rank-highest-ad-spenders-as-media-expenditure-hits-n81-billion/
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